The ratings are underpinned by Leitner Technologies' technical assistance to LSML and the Shriram group's track record in the 250 kilowatt (KW) wind turbine generator (WTG) business, Fitch explained.
They are further supported by the INR1.8bn order from the Shriram group company -- Orient Green Power Company Limited, which will ensure the projected capacity utilisation levels for LSML in fiscal 2011 and fiscal 2012, the agency added.
"One concern weighing on LSML's ratings is that its gearless technology is relatively new and has a limited operational history", Fitch noted.