For the fiscal year ending in March 2026, the pharmaceutical manufacturer recorded revenue growth of 8.8% to more than 290 Ush billion, and net profit increased by 38.8%, reaching a record 56.4 Ush billion. Speaking at the annual general meeting of shareholders, Chairman of the Board of Directors Emmanuel Katongole called these results the best in the history of QCIL, attributing success to continuous investments in production, expansion of the product range and growing demand in the region. The shareholders approved the final dividend of 6.4 Ush per share, bringing the total amount of dividends for the year to 16.6 Ush per share. Katongole noted that the year was marked by important milestones, including the start of construction of the company's second plant and the release of new products, in particular medicines for the treatment of sickle cell anemia.
Initially known for the production of antiretroviral and antimalarial drugs, QCIL has gradually expanded its range to include products for the treatment of non-communicable and infectious diseases, strengthening its position as one of the leading pharmaceutical manufacturers in sub-Saharan Africa.
The company recently completed the construction of Africa's only hydroxyurea facility for the treatment of sickle cell anemia and introduced 15 new products to combat diabetes, hypertension, allergies, fungal and bacterial infections. It is expected that the new plant in Luzir, which is under construction, will double its production capacity and allow the production of injectable drugs. The facility, funded by own funds and bank loans, must be completed within 24 months.
CEO Ajay Kumar Pal stated that high financial results were achieved despite a challenging global business environment characterized by geopolitical tensions, trade disputes, supply chain disruptions and limited access to international finance. However, the board of directors warned shareholders that part of this year's profits were secured by one-time receipts, including debt repayment by the Zambian government.
The company stressed that the current level of dividends should not be considered as a guideline for future payments. Looking ahead, management expects profitability to be impacted by increased competition, changing purchasing trends, commodity price volatility, and challenges to global supply chains, especially for active pharmaceutical ingredients. Ajay Kumar Pal also denied claims that the «Made in India» label means the company is importing products for resale. He explained that these medicines are produced under agreements designed to study market demand before production is fully localized in Uganda.
QCIL intends to make sickle cell anemia drugs one of its flagship lines, having identified a significant unmet need caused by high infant mortality, limited access to treatment and the high cost of available medicines. The improvement in the company's performance has increased investor confidence: the share price has almost doubled to 136 shillings.
The company currently exports medicines to at least 13 African countries and has regulatory approvals in 31 markets on the continent. Katongole also rejected suggestions that Cipla had gone out of business due to poor results, saying the sale was in line with the terms of the original investment agreement.
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