Our parent, Schaeffler AG is renowned for being a pioneer in innovation. Over the past seven decades, it has progressed swiftly on the path of growth and all-round value creation. Its global reach, expertise, quality-focused approach and technology-led products lend it an unmatched lead in the market. The parent supports us across our operations and is leading by example.
We provide a wide array of innovative solutions under the brands of Schaeffler, LuK, INA and FAG. Our leading position as a supplier to both industrial and automotive segments is an outcome of our robust distribution network, customer-centric approach and strong brand salience. Our ability to respond quickly and effectively to the changing needs of our customers helps us stand out in the crowd.
At Schaeffler India, we celebrate a strong culture of innovation. In India, we bring relevant innovative products of the Group and customise them to meet the needs of our clients. Our innovation spectrum cater to all key business segments, leverage best-in-class technology and enables the industry to progress forward. Our India-based R&D and incubator centres help us build local competencies and gain market share in the Indian market.
Our disciplined manner of managing our finances has enabled us to maintain a solid financial profile. For us, growth and profitability go hand in hand, and we have shied away from taking uncalculated risks and growing aggressively. This, along with our debt-free balance sheet have held us in good stead across the ebbs and flows in our journey. Our strong focus on corporate governance additionally, continues to steer the organisation as we scale newer heights of governance leadership.
Our diversified and complementary suite of products and services helps us serve a wide gamut of consumers across business segments. Our innovative and future-ready offerings enable us to stay relevant and provide superior experiences to our customers. Our offerings provide customers with unmatched reliability, efficiency and technology.
Our well-defined strategies encompass all potential opportunities across our businesses and aim to optimise the strengths of our business model. Our continued emphasis on R&D, technology adoption, and localisation along with efforts to drive efficiencies across all domains will enable us to take our company to its next level and also achieve greater operating leverage. Macro trends such as rising per capita consumption in India and strong demand from core sectors are some of the catalysts for growth in the future.
Source: World Economic Forum report, January 2019