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Savera Industries Ltd's Board of Directors approved entering the fitness studio business on April 18, 2026. The company will lease property from related party Shyam Investments at INR 12 lakhs per annum rent with a INR 6 lakhs security deposit, and lease existing gym equipment from related party Ruchi Agro Products Pvt Ltd for INR 1.80 lakhs. The 5-year lease agreement includes 5% annual rent escalation. The fitness studio will operate under the brand name '02 Health Studio' and commence commercial operations after obtaining necessary approvals. The rationale is business expansion to improve turnover and profits. All four promoters have interests in the related parties, and the transaction is stated to be at arm's length.
This represents a diversification into a new business segment (fitness/gym services), which could provide additional revenue streams but carries execution risk as the company enters an unfamiliar industry outside its current operations.