Polaris Inc

PII: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Polaris: Sale of Indian Provides Lift to Enterprise Margin as Mix Shifts to Higher Profit Lines

Jaime M Katz

Oct 13, 2025

Polaris is selling a majority stake in its Indian motorcycle business for an undisclosed amount to private equity firm Carolwood. Indian accounted for $478 million, or 7% of sales, over the last four quarters. Polaris expects the deal to lift annual adjusted EBITDA by $50 million and EPS by $1.00.

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Polaris Inc

Polaris: Sale of Indian Provides Lift to Enterprise Margin as Mix Shifts to Higher Profit Lines

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