Fredun Pharmaceuticals Limited (FPL) has acquired a 26% strategic stake in Goodman Vetcare Private Limited, a company valued at ₹300 crore. Goodman Vetcare is described as one of India's longest-standing dedicated pet pharmacies.
The strategic partnership aims to accelerate Goodman Vetcare's growth with an ambition to become India's largest pet-care retail chain over the next five years, targeting revenue of approximately ₹100 crore by FY31.
Financial Details of Goodman Vetcare
- FY24 Revenue: ₹14.1 crore
- FY26 Revenue: ₹23.6 crore
- Annual Revenue Growth: 30%
- Current Operations: Three stores across Mumbai and Navi Mumbai, including a flagship 24x7 veterinary pharmacy in Parel described as profitable
- Expansion Targets: ~₹40 crore revenue by FY27, ~₹56 crore by FY28
Expansion Plans
Goodman Vetcare plans to build a pan-India presence by opening at least eight new stores across three cities. New stores are targeted to reach breakeven within three to four months based on the performance of the brand's last two openings. The company also plans to commission a warehouse in the new city during the first half of the year to enable stronger stock availability.
Management Commentary
Mr. Fredun Medhora, MD & CFO, Fredun Pharmaceuticals Ltd. stated that Goodman Vetcare has built a strong and trusted position in veterinary and pet-care retail over several decades. He noted the opportunity to combine Goodman's market strength with FPL's brands, manufacturing capabilities, and broader ecosystem to build a stronger, more integrated pet-health platform in India.
Mr. Vipul Patil, CEO, Goodman Vetcare Pvt. Ltd. emphasized that the partnership with FPL provides resources, experience, and industry relationships to help scale the business. He specifically mentioned plans to open at least two more stores in Mumbai and first stores outside Maharashtra by the end of 2027.
Mr. Vishal Patil, Director, Goodman Vetcare Pvt. Ltd. highlighted the company's mission to be the definitive solution for pet healthcare needs.
About Fredun Pharmaceuticals Limited
Fredun Pharmaceuticals Limited is a healthcare and pharmaceuticals company offering a range of products including antihypertensives, antidiabetic, antiretroviral drugs (ARVs), narcotics, dietary/herbal supplements, nutraceuticals, cosmeceuticals, and animal healthcare products. The company primarily exports to Africa, Southeast Asia, Commonwealth of Independent States (CIS) countries, and Latin America.
Financial Performance of Fredun Pharmaceuticals (FY26)
- Total Revenues: ₹639.12 Cr
- EBITDA: ₹94.79 Cr
- PAT: ₹33.21 Cr
The document includes a standard disclaimer noting that forward-looking statements are subject to risks and uncertainties including government actions, economic developments, and technological risks.