Fredun Pharma gains on acquiring 26% stake in pet pharmacy operator Goodman Vetcare
Since 1989, Goodman has built strong relationships with pet parents, veterinary professionals and suppliers, supported by a specialised portfolio spanning veterinary medicines, pet food, accessories and allied pet-care products. The business currently operates three stores across Mumbai and Navi Mumbai, including its flagship store in Parel, a 24x7 veterinary profitable veterinary pharmacy and pet-care operation. Built without institutional capital, Goodman has grown its revenue by 30% annually, from Rs 14.1 crore in FY24 to Rs 23.6 crore in FY26.
Building on this momentum, the brand is targeting Rs 40 crore in revenue by FY27 and Rs crore by FY28. As part of its next phase of expansion, the brand plans to build PAN India presence by opening at least eight new stores across three cities, with an ambition to reach Rs 100 crore in revenue by FY31.
The expansion will be supported by a focused approach to execution, with new stores targeted to reach breakeven within three to four months, based on the performance of the brand?s last two openings. Goodman Vetcare also plans to commission a warehouse in the new city during the first half of the year, enabling stronger stock availability as the network expands.
The association brings together Goodman's deep expertise and established retail network with Fredun Pharmaceuticals' capabilities across healthcare, manufacturing, pet-care brands, technology and business development. Together, the businesses will focus on expanding the brand?s footprint into new geographies while gradually strengthening its omnichannel capabilities.
Fredun Medhora, MD & CFO, Fredun Pharmaceuticals, stated: Goodman Vetcare has built a strong and trusted position in veterinary and pet-care retail over several decades, with strong customer relationships, category expertise and deep understanding of the veterinary and pet-care ecosystem.
We see a significant opportunity to build on this foundation by bringing together Goodman Vetcare?s market strength with FPL?s brands, manufacturing capabilities and broader ecosystem.
Our objective is to support Goodman's next phase of growth and work towards building a stronger, more integrated pet-health platform in India.
Fredun Pharmaceuticals manufactures pharmaceutical formulations such as tablets, syrups, capsules, and ointments. The company's product basket includes multiple therapeutic classes such as anti-diabetics, anti-retroviral, anti-hypertensive etc.
The company's consolidated net profit increased by 94.1% to Rs 13.13 crore in Q1 FY27 from Rs 6.76 crore in Q1 FY26. Revenue from operations rose by 90.7% year-on-year (YoY) to Rs 227.75 crore during the period under review.
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