Davaindia Franchise
Generic pharmacy franchise (200–300 sq ft) from listed Zota Health Care; 970 of its 2,825 stores were franchised in Jun 2026.
Davaindia franchise at a glance (terms checked Oct 2026)
Investment
₹5 L - ₹6 L
Partly published by the brand · incl. fit-out, stock · excl. fee, rent deposit, working capital, GST · Below the category (typical ₹14.5 L–₹33.44 L, median ₹21.43 L, 8 verified brands)
Ongoing take
No royalty — you earn a margin
Franchise fee
No franchise fee
Interiors, fit-out and equipment: ₹2 L · Opening stock: ₹3 L · Franchise fee applies (amount not disclosed)
Payback
Not published
- Monthly sales claim is 2.6× better than Zota Health Care Q4 FY26 results filed with NSE (our arithmetic), May 2026
- Legal or regulatory action on record — see Reputation & News
- Outlet closures: 256 opened vs 16 closed in reported years
- Disputes with franchisees: None found (records checked Oct 2026)
- Network growth: 493 → 970 outlets (Mar 2023–Jun 2026)
Outlets
2,825 (brand claim)
What we couldn't verify
- • Franchisee satisfaction
- • Profit or loss
- • Revenue trend
- • Outlet claim matches reality
Ask before you sign
- Speak to at least 3 franchisees who have run an outlet for 2+ years and see their actual monthly sales and profit — a franchisor making money doesn't mean its franchisees do.
- Get a written, itemised cost breakdown — the brand hasn't published one.
- Ask for every upfront payment in writing — deposit, onboarding, equipment or stock — and which parts are refundable.
Franchise terms checked against Davaindia's official franchise page on 7 Oct 2026. Figures marked * aren't published by the brand — they come from other published sources or our own estimate, and aren't verified.
Investment Breakdown
Per franchisor'Infra cost' in Zota's Jun 2023 investor presentation.
'Inventory' in Zota's Jun 2023 investor presentation.
Not published by Davaindia.
Total excludes a charge whose amount Davaindia doesn't disclose.
Ongoing charges
Model your own numbers in our calculator
Open the ROI calculator* Breakdown as published by Davaindia. Davaindia confirms one charge without disclosing the amount — get it in writing before you pay.
Ways to Partner with Davaindia
1 partner model published by the brand. Figures it doesn't publish are left blank.
Franchise store (FOFO)
- Investment
- ₹5 L – ₹6 L
- Space
- 200 sq ft – 300 sq ft
- Royalty / margin
- Margin of 25–26% on sales (26% from year 2, per Zota's 2023 model)
- Territory
- 1 km exclusive radius (Zota, 2023)
- Who it suits
- 250 sq ft space; a pharmacist or the ability to arrange a pharmacy licence
Set-up figure is from Zota's Jun 2023 investor presentation; fee and deposit not published.
Reported Elsewhere
Not verifiedDavaindia doesn't publish these figures. Other sources have reported them, so they're here to give you a rough idea only. They may be out of date or wrong, and the real numbers can differ a lot — get them from the brand in writing before you decide.
- Average monthly sales per franchise store (network, Q4 FY26)Reported by Zota Health Care Q4 FY26 results filed with NSE (our arithmetic), May 2026 · Q4 FY26 franchise-store GMV ₹4,711 lakh ÷ 3 months ÷ 908–923 stores (at MRP, incl. GST); FY26 as a whole works out to about ₹1.65 L (₹16,371 lakh ÷ ~827 average stores ÷ 12). About 80% of these stores were already open in Mar 2025. Zota says franchise GMV is counted from the stores' own invoices and that some franchisee sales were not invoiced in real time (Q1 FY27 call, Aug 2026), so the true average may be somewhat higher. Compare with the 2023 claim of ₹4.5 L a month for a mature store.
- ~₹1.7 L a month*
Our Estimates
FranchiseChuno estimateDavaindia doesn't publish these, so here is our best read of the market and how we got there. They are our estimates, not the brand's figures — use them to plan, then confirm the real numbers in writing.
All-in cost to open a franchise store (2026)
₹6–8 L*
Zota's own 2023 split (₹2–3 L fit-out + ₹3 L stock) plus a rent deposit of 3–6 months at ₹15–25K, drug-licence and opening costs, and some inflation since 2023. Excludes any franchise fee, which Davaindia doesn't publish.
Unit-economics model · Oct 2026
Monthly operating profit of an average (not mature) franchise store
about -₹10K to ₹20K*
Network average franchise-store sales of about ₹1.7 L a month (Q4 FY26 filing) × 26% margin ≈ ₹45K, less Zota's own 2023 operating-cost figure of ₹50K a month (rent, pharmacist, power). The top of the range assumes the owner is the pharmacist (saving about ₹20K). Mature, well-located stores will do better.
Unit-economics model · Oct 2026
Unit Economics
Brand's own figuresHow Davaindia says an outlet's numbers work. These are illustrations, not guarantees — check them against existing franchisees before you sign.
Franchise store (FOFO)
- Monthly sales of a 'typical matured' storeJun 2023 investor presentation
- 4,50,000 INR
- Franchisee margin26% of sales from year 2 (Jun 2023)
- 26 %
- Monthly operating costsJun 2023 model store
- 50,000 INR
- Monthly EBITDA of a matured store₹0.67 L, or ₹0.87 L take-home if the owner is the pharmacist (Jun 2023)
- 67,000 – 87,000 INR
Company-owned store (COCO)
- Monthly sales of a mature store (12–18 months)Management, Q1 FY27 earnings call (Aug 2026); COCO data only
- 2,20,000 – 2,50,000 INR
What Davaindia Says You Can Earn
Claims don't add upDavaindia's own claim — no evidence given. These are not FranchiseChuno's estimates or a promise of earnings; ask existing franchisees what they actually make.
- Annual return on investmentYearly profit as a share of the total investment.
- 174%
- Monthly sales
- ₹4.5 L
- Monthly profit
- ₹67K – ₹87K
Claim vs evidence
The same measure from other sources. Franchisee figures are their own reports (shown only once at least 3 have reported); figures marked * aren't verified. Only franchisee and third-party figures affect the Score — never our own estimate.
- Our estimate₹-10000 – ₹20K*Claim much more optimistic
- Reported by Zota Health Care Q4 FY26 results filed with NSE (our arithmetic), May 2026₹1.7 L – ₹1.73 L*Claim much more optimistic
Brand claim, Jun 2023: Zota's investor presentation modelled a 'typical matured' franchise store selling ₹4.5 L a month (at MRP, incl. GST), keeping a 26% margin from year 2, with ₹0.67 L monthly EBITDA (₹0.87 L if the owner is also the pharmacist) on ₹6 L invested — 174% a year. The 174% counts the owner-pharmacist's saved salary as profit; on EBITDA alone it is about 134%. Later filings don't repeat the model. By our arithmetic from Zota's Q4 FY26 filing, franchise stores recorded about ₹1.7 L a month in sales on average (from store invoices, which Zota says may miss some sales) — roughly 2.6 times less than the claim.
Reputation & News
3 red flags to checkWhat the press, courts and real franchisees or customers have said about Davaindia — summarised by us, with every source linked.
⚠ Scam alert
Davaindia warns of fake payment requests to franchise partners
Davaindia's website carries a security alert about fraudulent calls, emails and messages in its name that ask franchise partners and employees for payments. It says it doesn't seek payments for recruitment or offer letters and that payment instructions come only from its operations team.
Source: Davaindia website security alert (the brand's own site)- Legal / regulatory· Jul 2026
Hindustan Unilever's IP suit against Zota Health Care is pending
HUL has sued Zota Health Care and others in a commercial IP suit in the Bombay High Court. The public orders (Jul–Sep 2026) are procedural and don't describe the claim; a Court Receiver attended the Jul 2026 hearing.
Source: Indian Kanoon (Bombay High Court orders) - In the news· Feb 2026
Security flaw exposed Davaindia customer and store data
A researcher reported an exposed admin system in Aug 2025 that gave access to customer orders, pharmacist details and store data. Security Affairs reports it was fixed within about a month and confirmed closed in Nov 2025.
Source: Security Affairs - In the news· May 2026
Zota Health Care loss widened to ₹74.1 Cr in FY26
Consolidated revenue rose 84% to ₹538.7 Cr, but the net loss grew from ₹56.7 Cr to ₹74.1 Cr. On the Aug 2026 earnings call, management said it expects cash break-even around Q1 FY28.
Source: Zota Health Care FY26 investor presentation - In the news· May 2026
Zota raises ₹350 Cr through a QIP to grow Davaindia
Zota Health Care completed a ₹350 Cr qualified institutional placement in Dec 2025 and said the money would go into expanding the Davaindia network.
Source: Zota Health Care FY26 press release
Show 1 moreShow fewer
- Customer view★ 4.2/5 · 2,540 ratings
Davaindia app rated 4.2 on Google Play
The Davaindia app had a 4.2/5 rating from about 2,540 reviews and 5 lakh+ downloads.
Source: Google Play
Key Terms at Davaindia
The clauses that shape day-to-day running and your exit — read these before the fee.
- Territory
- Franchisee gets a 1 km radius of exclusivity (Zota investor presentation, Jun 2023).
- Supply & stock
- Zota supplies stock to franchise stores directly; its filings book these as 'sales to FOFO stores', and franchisees buy their inventory from Zota. The brand's site says 98% of the range is Davaindia private label.
- Pricing
- The franchisee's margin is built into the MRP: Zota's 2023 model shows a 26% franchise margin on sales at MRP from year 2.
- Other terms
- Since Q4 FY23 every new franchise store must be a walk-in format, not a counter-only shop.
Legal & Contract Summary
Key contract terms at a glance — read before you sign.
Agreement Type
Franchisee-Owned, Franchisee-Operated
Contract Duration
—Renewal Available
—Territory Exclusivity
—Non-Compete Clause
—Exit Clause
—Licenses Needed
Who Can Apply for Davaindia
Conditions the brand sets for partners, and the licences the business needs.
- Space: About 250 sq ft (stores are typically 200–300 sq ft)Required
- Pharmacist: Be a pharmacist or able to arrange a pharmacy licence/pharmacistRequired
- Funds: Investment ready to open the storeRequired
Licences & registrations
| Licence | Issued by | Who gets it |
|---|---|---|
| Retail drug licenceDavaindia's store-opening process includes applying for the drug licence and pharmacist training. | State drug control department | You |
| Registered pharmacistThe enquiry form asks whether the applicant is a pharmacist or can arrange one. | State Pharmacy Council | You |
About the Brand
Brand USP
Sells almost only its own private-label generic medicines (98%, the brand says), which it says cost 30–90% less than branded equivalents.
Why invest in Davaindia?
Davaindia by the Numbers
Source marked on each figure2,825 (1,855 company-owned, 970 franchised)
Total Davaindia stores · Jun 2026
Company filing₹417.4 Cr (FY25: ₹186.2 Cr)
Davaindia sales, FY26 · Mar 2026
Company filing₹163.7 Cr across the FOFO network
Franchise-store GMV, FY26 · Mar 2026
Company filingAbout 60 lakh
Customer footfall, Q1 FY27 · Jun 2026
Company filing2,000+ private-label SKUs
Products · Mar 2026
Brand claim30–90% lower
Price versus branded medicines · Mar 2026
Brand claimDavaindia Outlet Network
| Year | Opened | Closed | Transferred | Net |
|---|---|---|---|---|
| FY26 | 193 | — | — | — |
| Q1 FY27 | 63 | 16 | — | +47 |
Outlet count over time
- Mar 2023493
Mar 2023 · archives.nseindia.com
- Mar 2025730
Mar 2025 · nsearchives.nseindia.com
- Mar 2026923
Mar 2026 · nsearchives.nseindia.com
- Jun 2026970
Jun 2026 · zotahealthcare.com
- Mar 2023101
Mar 2023 · archives.nseindia.com
- Mar 2025852
Mar 2025 · nsearchives.nseindia.com
- Mar 20261,656
Mar 2026 · nsearchives.nseindia.com
- Jun 20261,855
Jun 2026 · zotahealthcare.com
These counts come from different sources — brand claims, press reports and store locators — so they aren't a like-for-like series. Treat the brand's own claims as the upper end.
By state · Mar 2026
- West Bengal193
- Uttar Pradesh189
- Odisha114
- Madhya Pradesh74
- Gujarat55
- Maharashtra40
- Haryana36
- Rajasthan33
- Delhi29
- Bihar28
Cities with Outlets
Show all 69 citiesHide the city list
Company Financials
Brand-level, publicly reportedThe franchisor's own company health — separate from what a single franchise outlet earns.
Revenue (FY26)
₹417.41 Cr
Notable investors
A profitable franchisor doesn't mean profitable franchisees. These are the company's numbers, not an outlet's. A franchisor can grow on fees and supplies while outlets struggle — talk to existing franchisees and see their accounts before you decide.
Company Health Check
What Davaindia's franchisor company has filed with the registrar and the courts — the checks a lawyer would run before you sign.
- Status with the registrar
- Active
- Annual filings
- Up to date
- Last AGM
- 29 Sep 2025
- Late payments to small suppliers
- 14
- Paid-up capital
- ₹34.63 Cr
- Auditor
- Pradeep K. Singhi & Associates
Group companies
- Davaindia Health Mart LimitedSubsidiary · 100%
- Everyday Herbal Beauty Care LimitedSubsidiary · 87.78%
- Zota Nex Tech LimitedSubsidiary · 100%
- KMHP Ventures LimitedSubsidiary · 100%
Source: Tracxn (MCA filings); Zota FY25 annual report; FY26 results; Indian Kanoon (checked Oct 2026)
Full company recordsFinancials year by year, registered details, leadership and timelineShowHide
Davaindia Financials Over Time
Figures for the whole group, from filed or reported accounts.
Source: Tracxn (MCA filings)
A profitable franchisor doesn't mean profitable franchisees. These are the company's numbers, not an outlet's. A franchisor can grow on fees and supplies while outlets struggle — talk to existing franchisees and see their accounts before you decide.
Company Profile
The legal entity behind the brand, its leadership, and its official channels.
- Registered name
- Zota Health Care Limited
- Company type
- Public limited company (listed on NSE)
- CIN
- L24231GJ2000PLC038352
- Incorporated
- 12 Jul 2000
- Headquarters
- Surat, Gujarat
Leadership
- KKetan ZotaFounder; Chairman and non-executive director, Zota Health Care
- DDr Sujit PaulGroup CEO
Social presence
Company details source: Tracxn (MCA filings)
Davaindia Timeline
Jul 2000
Zota Health Care incorporated
SourceOct 2017
Davaindia launched with 3 franchise stores
Source2021
First company-owned (COCO) store
SourceDec 2022
One-time closure of under-performing franchise stores
Zota says it closed under-performing FOFO stores in Q3 FY23; the FOFO count fell from 562 to 470 that quarter.
SourceMar 2023
All new franchise stores made walk-in
SourceDec 2025
₹350 Cr QIP completed
SourceMar 2026
2,579 stores; 997 opened in FY26
SourceJun 2026
2,825 stores
SourceQ2 FY27Announced plan
Slower store openings to focus on store productivity
SourceFY29Announced plan
Target of 5,000 Davaindia stores
Source
FranchiseChuno Analysis
Our analysis of verified dataHow Davaindia looks once the numbers are checked side by side.
- ✓9 years of franchisingFranchising since 2017, with 2,825 outlets.
- !2 red flags in the news or public discussionSee Reputation & News below, and ask the brand to address each one.
Data completeness
45%
- ✓ Terms checked against the brand's own page
- ○ Published investment (not an estimate)
- ○ Franchise fee
- ○ Royalty
- ○ ROI or payback claim
- ○ Agreement term
- ○ Training details
- ✓ Outlet cities verified
- ✓ Company financials
- ✓ Legal entity
- ✓ News & public opinion checked
Ask Before You Sign
Questions tailored to what Davaindia does and doesn't publish.
- 1Speak to at least 3 franchisees who have run an outlet for 2+ years and see their actual monthly sales and profit — a franchisor making money doesn't mean its franchisees do.
- 2Get a written, itemised cost breakdown — the brand hasn't published one.
- 3Ask for every upfront payment in writing — deposit, onboarding, equipment or stock — and which parts are refundable.
- 4Ask exactly how your margin or commission is calculated, when it's paid, and whether the brand can change it.
- 5Ask for the agreement term, renewal fee and exit or transfer terms.
- 6Ask whether you get an exclusive territory, and how large it is.
- 7Ask the brand to respond to each red flag listed under Reputation & News.
- 8Have a lawyer review the franchise agreement before paying anything.
- 9Visit 2–3 existing outlets and speak to their owners without the brand present.
Running the outletSpace, staff, launch steps, training, support and who does whatShowHide
Operations Required
What you'll need on the ground to run this franchise day-to-day.
Area Required
200 - 300 sq ft
Staff Needed
—
Setup Time
—
Owner Involvement
—
Best Locations
Not published
Business Type
Not published
Training & Support
What the brand provides to help you launch and run your franchise.
Operations Manual
Step-by-step playbook for running the outlet
Supply Chain Support
Vendor sourcing, inventory & logistics
Technology / POS
Billing, inventory, and management software
Marketing Support
National & local marketing campaigns
Launch Support
Pre-opening setup and grand-opening assistance
Ongoing Field Support
Regular visits and operational coaching
What Davaindia franchisees say
We haven't yet heard from enough Davaindia franchisees to show anything. We publish totals once 3 or more people who run an outlet have answered and we've called each one to check.
I run a Davaindia outlet — share how it wentFrequently Asked Questions
What is the total investment for a Davaindia franchise?
What return does Davaindia say a franchise makes?
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