Fresh from marking its 20th anniversary, Uganda’s leading pharmaceutical manufacturer, Quality Chemical Industries Limited (Qcil), is celebrating yet another milestone.
The company posted a record net profit of Shs 23.9 billion in the first half of the 2025/26 financial year, representing an 8.2 per cent growth from the previous period. Established in 2005, Qcil is a publicly listed company and Africa’s largest producer of World Health Organisation (WHO)-prequalified malaria and HIV treatments.
According to the unaudited financial results for the six months ended September 30, 2025, Qcil generated Shs 148.2 billion in revenue, a slight dip from Shs 152.2 billion in the same period last year.
Management attributed the decline to the appreciation of the Ugandan shilling against the US dollar. However, the company noted that on a constant currency basis, revenue would have grown by 1.6 per cent.
Despite the currency headwinds, Qcil’s gross profit margin improved from 38.6 per cent to 42.4 per cent, while earnings before interest, tax, depreciation, and amortisation (EBITDA) rose by 4 per cent to Shs 38.3 billion, up from Shs 37 billion in the first half of FY2025.
Profit before tax also climbed 6.2 per cent, driven largely by stronger operational efficiency and improved product margins. During the review period, Qcil launched 16 new products, including anti-malarials, anti-diabetics, anti-hypertensives, antibiotics, anti-fungals, and anti-allergics, as part of its diversification strategy.
The company also recently commenced construction of a second manufacturing facility in Luzira, which is expected to double its annual production capacity to 2.4 billion tablets. The expansion will also introduce injectable and tuberculosis (TB) product lines, further widening Qcil’s therapeutic portfolio.
“This expansion underscores our unwavering commitment to health, innovation, and economic empowerment,” said Emmanuel Katongole, Qcil chairman and co-founder.
“We are investing in Africa’s self-reliance in pharmaceutical manufacturing and in the well-being of our communities.”
DIVIDENDS
The company’s board of directors declared an interim dividend of Shs 4.2 per share, up from Shs 3.5 per share the previous year, payable on or before December 5, 2025, to shareholders registered by November 25, 2025.
Chief executive officer (CEO) Ajay Kumar Pal said Qcil will continue to build on the solid operational base to achieve sustainable growth, expand production capacity, and strengthen its reputation for quality and reliability across Africa.
“The first half of FY26 demonstrates our operational discipline and continued focus on efficiency,” Pal said.
“We are focusing on growth while building a stronger foundation for long-term expansion across Uganda and the region. We continue to manage emerging risks such as global pharmaceutical price erosion, currency volatility, and uncertainty in funding from major institutional customers.”