Zeelab Pharmacy targets ₹200 Cr revenue in FY27 with store-led growth

Revenue target and growth plan

According to Inc42, Zeelab Pharmacy is aiming to double its operating revenue to ₹200 Cr in FY27, up from ₹110 Cr in FY26. The company’s strategy is built around leveraging its existing network of over 300 owned stores to drive sales and expand reach.

Affordability as a market correction

Zeelab’s business model focuses on affordability, a deliberate shift from traditional pharma distribution. The company cuts out intermediaries to reduce costs, passing savings directly to consumers. Founder Rohit Mukul describes this as a correction to a market where consumers have historically had limited choices, an idea influenced by his studies at the London School of Economics.

Hybrid offline-online distribution

The company’s 300+ store network is central to its growth. These stores serve as both physical retail points and fulfilment centres for online orders, enabling faster delivery of medicines. This hybrid model allows Zeelab to combine the trust of offline retail with the convenience of digital sales.

What this means

Lazyfounder analysis — our interpretation, not reported fact.

Zeelab’s growth trajectory and hybrid distribution model highlight two key takeaways for founders. First, vertical integration—cutting out intermediaries to control costs—can be a scalable strategy in sectors like pharma, where supply chains are complex and margins are tight. Second, combining offline and online channels can accelerate reach, especially in markets where consumer trust is built through physical presence. For startups in healthtech or retail, Zeelab’s approach could serve as a playbook for balancing affordability with scalability.

Key takeaways

• Affordable pharma remains a high-growth segment, particularly for startups targeting cost-sensitive consumers in India.
• Zeelab’s hybrid model demonstrates how offline stores can double as fulfilment centres, reducing delivery times and costs.
• Eliminating intermediaries can create a competitive edge in sectors with fragmented supply chains, such as healthcare and consumer goods.