Mumbai, September 22: Leading animal pharma manufacturer Fredun Pharmaceuticals Limited (FPL) will acquire a 26% stake in Goodman Vetcare Private Limited for ₹300 crore. With this, Fredun aims to complement its veterinary pharma portfolio in the retail market while supporting Goodman Vetcare’s expansion plans.
Founded in 1989, Goodman Vetcare is one of India’s oldest pet pharmacies, offering a specialised veterinary medicines, pet food and accessories. The company has, so far, grown its revenue by about 30% annually, from ₹14.1 crore in FY24 to ₹23.6 crore in FY26, all while remaining bootstrapped though it remains concentrated in the Mumbai Metropolitian Region (MMR).
With the investment from Fredun Pharma, Goodman aims to build a pan India presence by opening at least 8 new stores, targeting a ₹100 crore revenue by FY31. Besides this, Goodman will also invest in warehousing, training and inventory as well, while ensuring it maintains its service standards it has held so far.
“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.” Mr. Fredun Medhora, MD & CFO, Fredun Pharmaceuticals Ltd., said in a press release.
“FPL brings the resources, experience and industry relationships to help us prepare for the scale of business we want to build. Beyond capital, FPL’s experience in building teams and managing operations will be particularly valuable as we expand into new cities. Its pharmaceutical background also brings a strong perspective on supply, quality and operating discipline, which complements our experience at the pharmacy counter. The association gives us the ability to plan further ahead across teams, technology, inventory and infrastructure in a more structured way. With plans to open at least two more stores in Mumbai and our first stores outside Maharashtra by the end of 2027, having the right capabilities and infrastructure in place will be critical to scaling Goodman Chemist sustainably. With this association the pace changes now; the way we work doesn’t.” Mr. Vipul Patil, CEO, Goodman Vetcare Pvt. Ltd., added.
Fredun Pharmaceuticals’ shares have been on a roll lately, with its shares rising 10.8% over the last five trading sessions to ₹1,372 boosted by strong financial results from FY26 moving towards Q1 FY27 as well. This acquisition is expected to affect the share price further.
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