New Delhi, Sept. 23 -- The strategic partnership between Fredun Pharmaceuticals Ltd. and Goodman Vetcare aims to accelerate Goodman's growth, with an ambition to become India's largest pet-care retail chain over the next five years, with revenue targeted at ~Rs.100 crore by FY31.
Mumbai (Maharashtra) [India], September 23: Fredun Pharmaceuticals Limited (BSE: FREDUN | 539730 ), has acquired a 26% stake in Goodman Vetcare Private Limited marking a strategic step towards strengthening its presence in India's animal health, veterinary retail and pet-care market. The association brings together Goodman's deep expertise and established retail network with Fredun Pharmaceuticals Ltd.'s capabilities across healthcare, manufacturing, pet-care brands, technology and business development, creating a strong foundation for the next phase of growth. Together, the businesses will focus on expanding the brand's footprint into new geographies while gradually strengthening its omnichannel capabilities.
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. 56 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. Teams will be hired and trained ahead of each launch to ensure stores are adequately staffed from day one and can maintain the service standards the brand has built its reputation on.
For Goodman Vetcare Pvt. Ltd., the association provides an opportunity to combine the trust, expertise and market relationships built over decades with the resources and capabilities required to scale further. For FPL, it adds an established customer-facing platform and specialised veterinary retail expertise to its growing healthcare and pet-care ecosystem.
Together, the businesses aim to build on Goodman's strong foundation, expand its reach and strengthen its position in India's organised pet-health and veterinary retail market.
About Fredun Pharmaceuticals Limited
Fredun Pharmaceuticals Limited, healthcare and pharmaceuticals company offer a range of products, including antihypertensives, antidiabetic, antiretroviral drugs (ARVs) and narcotics. It is also engaged in the manufacturing of dietary/herbal supplements, nutraceuticals, cosmeceuticals, and other healthcare products along with animal healthcare products. With such a diverse range of products, the Company's objective is to be a holistic healthcare provider. The Company primarily exports its products to Africa, Southeast Asia, Commonwealth of Independent States (CIS) countries and Latin America.
In the FY26, Fredun reported total revenues of Rs.639.12 Cr, with an EBITDA of Rs.94.79 Cr and a PAT of Rs.33.21 Cr.
Published by HT Digital Content Services with permission from PNN.