Independent research on the U.S. markets, Baptista Research

Baptista Research

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. 

We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul>
<li>The company reported a challenging yet resilient 2025 fiscal year, characterized by significant headwinds from evolving tariff policies and a pressured consumer environment.</li>
<li>Despite these obstacles, Polaris demonstrated operational discipline and strategic execution, delivering share gains across its key segments including Off-Road Vehicles (ORV), snowmobiles, pontoons, and motorcycles.</li>
<li>This performance was supported by product innovation such as the RZR XP S and RANGER 500 launch, the introduction of the largest industry touchscreen on the RZR Pro R, and refreshed offshore lines like the Bennington QX and Godfrey Sanpan pontoons.</li>
</ul>


The company reported a challenging yet resilient 2025 fiscal year, characterized by significant headwinds from evolving tariff policies and a pressured consumer environment.
Despite these obstacles, Polaris demonstrated operational discipline and strategic execution, delivering share gains across its key segments including Off-Road Vehicles (ORV), snowmobiles, pontoons, and motorcycles.
This performance was supported by product innovation such as the RZR XP S and RANGER 500 launch, the introduction of the largest industry touchscreen on the RZR Pro R, and refreshed offshore lines like the Bennington QX and Godfrey Sanpan pontoons.


Polaris Inc Is Reshaping Its Product Portfolio

Polaris Industries

Polaris Inc Is Reshaping Its Product Portfolio