TVS Motor TVSMOTOR
Two-wheeler maker whose iQube e-scooter depends on rare-earth hub motors
Mapped in 1 theme: Rare-Earth Magnets (REPM).
Where TVS Motor sits in the supply chain
TVS Motor appears in 1 supply-chain layer in one theme, Rare-Earth Magnets (REPM).
Rare-Earth Magnets (REPM) › Electric two-wheelers
At-risk participantOther companies in this layer
Revenue and profit
| ₹ Cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 38,779 | 44,089 | 56,070 |
| Net profit | 1,779 | 2,380 | 3,186 |
Latest-year revenue ₹56,070 Cr (FY26, company-wide). Wider screens show FY22 onwards.
Strengths
- Kept iQube production up 6% year on year in July 2025 (23,742 units) while Bajaj's Chetak fell 47%
- Reported, though not confirmed by the company, to be working on ferrite motors that cut rare-earth use
Risks
- Still dependent on imported magnets until Indian plants run (about 2028 at the earliest)
- A ferrite switch would lower long-run demand for the magnets the scheme pays for
Common questions
What does TVS Motor do?
Two-wheeler maker whose iQube e-scooter depends on rare-earth hub motors.
Where does TVS Motor sit in the supply chain?
TVS Motor (NSE: TVSMOTOR) is mapped in 1 supply-chain layer: Electric two-wheelers (Rare-Earth Magnets (REPM)).
Who are TVS Motor's peers?
In the Electric two-wheelers layer of Rare-Earth Magnets (REPM): Bajaj Auto and Ola Electric.
What is TVS Motor's market cap and valuation?
As of 30 Oct 2026: market cap ₹1.99L Cr, P/E 51.7x, ROCE 17.4%, ROE 33.6%, dividend yield 0.29%.