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Uganda Securities Exchange

Last update 29 Aug 2025

Uganda Clays Ltd · UCL.UG

Uganda · Materials · Construction Materials · —

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Uganda Clays Ltd is a Uganda-based building-materials manufacturer and a listed company on the Uganda Securities Exchange. The company produces and sells baked clay products used in residential, commercial, institutional, and infrastructure construction. Its product range includes roofing tiles, bricks, quarry floor tiles, maxpans or suspended floor units, ventilators, decorative grilles, walling and partitioning blocks, and related clay-based construction materials. Operations are linked to manufacturing plants, clay deposits, kiln performance, energy costs, maintenance reliability, product quality, and distribution to contractors, developers, households, and hardware channels. Uganda Clays' demand profile is tied to Uganda's housing market, public and private construction activity, urbanization, mortgage affordability, and customer preference for durable local building materials. For investors, UCL offers exposure to domestic construction inputs and industrial manufacturing. Key analysis points include production efficiency, kiln utilization, energy prices, working capital, product mix, competitive pressure from alternative building materials, plant investment needs, and the cyclicality of construction demand.

Fundamentals

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Metric  (UGX, B) 2024 2023 2022 2021 2020
Revenue Total Revenue 32
EBITDA 2
EBIT -2
Net income Net Income -5
Operating margin -8%
Net margin -16%