Explosive demand for blasting systems from global mining companies
More than half of total revenue generated by IPL is derived from sales of explosives. The company has experienced strong demand for its blasting systems from global mining companies during the recent macroeconomic recovery on account of downstream mining activity ramping back up. Quarry and construction customers form the largest end-market for IPL explosives by revenue, which has also recently benefited from the recovery in residential and nonresidential infrastructure spending. The recently passed Infrastructure Investment and Jobs Act in the United States is expected to underpin strong demand from customers within this region over the coming years.
COVID|StructuralIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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