Fredun Pharmaceuticals Limited has acquired a 26% stake in Goodman Vetcare Private Limited, strengthening its presence in India’s animal health, veterinary retail and pet-care market. The partnership brings together Goodman Vetcare’s established veterinary retail business and customer relationships with Fredun Pharmaceuticals’ capabilities in healthcare, manufacturing, pet-care brands, technology and business development. The companies plan to use the partnership to expand Goodman’s presence into new markets and strengthen its retail and omnichannel operations.
Founded in 1989, Goodman Vetcare has built a specialised business covering veterinary medicines, pet food, accessories and other pet-care products. The company currently operates three stores across Mumbai and Navi Mumbai, including its flagship store in Parel, which operates as a 24-hour veterinary pharmacy and pet-care outlet.
Goodman has grown without institutional capital and increased its revenue from ₹14.1 crore in FY24 to ₹23.6 crore in FY26, representing annual growth of around 30%. The company is targeting revenue of approximately ₹40 crore in FY27 and ₹56 crore in FY28.
As part of its expansion plans, Goodman aims to establish a presence across India by opening at least eight new stores across three cities. The company has set a long-term revenue target of around ₹100 crore by FY31. The expansion will include the opening of new stores in Mumbai and entry into markets outside Maharashtra. Goodman also plans to establish a warehouse in a new city during the first half of the year to improve inventory availability as its retail network expands. The company intends to recruit and train teams ahead of each store opening.
Fredun Medhora, Managing Director and CFO, Fredun Pharmaceuticals Limited, said, “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.”
Vipul Patil, CEO, Goodman Vetcare, said the partnership would provide the company with resources and operational expertise to expand into new cities while maintaining its focus on customer service, product availability and quality. Vishal Patil, Director, Goodman Vetcare, said the association would help Goodman expand access to veterinary medicines and pet-care products while building on the trust developed with pet owners and veterinary professionals over the years.
For Goodman, the partnership provides access to resources and capabilities needed to expand its organised veterinary retail network. For Fredun Pharmaceuticals, the investment adds an established customer-facing veterinary platform to its healthcare and animal-care portfolio.
Fredun Pharmaceuticals offers products across several healthcare categories, including antihypertensive, antidiabetic, antiretroviral and other pharmaceutical products. The company also manufactures dietary and herbal supplements, nutraceuticals, cosmeceuticals and animal healthcare products. In FY26, Fredun reported revenue of ₹639.12 crore, EBITDA of ₹94.79 crore and PAT of ₹[figure as provided] crore.
