Company Intelligence — Overview
Tanga Cement
The second cement major, rebuilt on a stronger balance sheet
DSE: TCCL · Tanga Cement Public Limited Company · Dar es Salaam Stock Exchange · FY ending 31 Dec
~3,180
Market price · TZS/sh (Jun 26)
607.4 bn
Market cap · TZS
+29%
FY25 sales growth (interim)
+26%
FY25 operating profit (interim)
20.9 bn
Q3’25 profit
−1.04 bn
Q4’25 net loss (seasonal)
The analysis — key observations
- Strong full-year growth. FY2025 sales rose ~29% and operating profit ~26% year-on-year — a solid year of top-line and margin expansion.
- Seasonal Q4 dip. Q3 delivered TZS 20.9bn profit on TZS 84.7bn revenue; Q4 swung to a small net loss (TZS 1.04bn) management attributes to market seasonality.
- Balance sheet rebuilt. A significant rights issue strengthened the balance sheet, positioning the group to capitalise on East African construction demand.
- The second cement major. The country’s #2 cement producer alongside Twiga (TPCC) — a direct peer for sector comparison.
Audited full-year 2025 results are pending — figures here combine FY2025 interim growth with Q3/Q4 disclosures and the mid-year rights issue, and refresh on publication.
Valuation context — TZS/share (illustrative, educational)
Illustrative framing for education only — not a price target or recommendation. Audited FY2025 EPS/P/E pending; figures mix FY2025 interim growth with Q3/Q4 disclosures, and the mid-year rights issue affects per-share comparisons.
Market backdrop — DSE & macro · mid-2026
3,950
DSE All-Share Index · 18 Jun 26
34.2 tn
DSE market cap · TZS
~6%
GDP growth
~3.3%
Inflation · stable macro
Key risks
Energy & input costs
Cement is energy-intensive; fuel and power prices feed directly into margins.
Volume seasonality
Q4 softness shows demand is seasonal and weather/cycle-sensitive.
Post-rights-issue execution
The strengthened balance sheet now has to be deployed into returns — execution is the watch item.