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Home CompaniesElectrovaya Inc.

Electrovaya Inc.

Industrials Electrical Equipment & Parts
PortfolioPortfolio WatchlistWatchlist
Company price
4.91 USD -0.37 ( 7.01%)
Last update at 2026-11-10T21:00:00Z
VOLUME
348010
Market Cap
468.66M
P/E
86.27

Momentum Score

…

Electrovaya Inc. engages in the design, development, manufacture, and sale of lithium-ion batteries, battery management systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications in North America. It operates infinity battery systems comprising of low and high voltage systems. The company also operates solid state battery technology. In addition, it offers lithium-ion battery systems to power MHEV, including fork-lifts, as well as accessories, such as battery chargers to charge the batteries; lithium-ion batteries for robotic applications; lithium ion battery cell and modules for sales to OEM customers in the defense, construction, and other applications; high voltage battery systems for electric bus, truck, and defense applications; and industrial products for energy storage. The company was formerly known as Electrofuel Inc. and changed its name to Electrovaya Inc. in March 2002. Electrovaya Inc. was incorporated in 1996 and is headquartered in Mississauga, Canada.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
4.83
Low
5.30
High
52 Week Price Range
2.54
Low
11.88
High

Momentum Score

…
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Electrovaya develops and manufactures proprietary lithium-ion cells and battery systems for stationary energy storage, commercial electric vehicles and industrial applications. Long-term growth drivers include electrification, rising demand for grid and commercial storage and potential scaling or licensing of its cell technology, which may benefit from broader EV and renewable integration.
Key risks include commercialization and manufacturing scale-up, intense competition from larger battery makers, ongoing unprofitable operations that may require additional financing, and supply-chain and commodity price exposure.

Risk Score
High

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
5.28
Dividend Yield
-
Revenue TTM
63.83M
Revenue Per Share
1.63
Gross Profit TTM
19.72M
Debt / Equity
0.72
ROE
16.94%
Net Debt
16.20M
ROCE
7.27%
Diluted EPS TTM
0.11

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30
Type yearly yearly yearly yearly yearly
Date 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30
Income before tax 1.31M -1.49M -2.16M -9.21M -7.53M
Net income 3.36M -1.49M -1.48M -9.21M -7.53M
Selling general administrative 5.43M 6.09M 4.85M 6.27M 3.25M
Selling and marketing expenses 2.93M 2.94M 1.90M 1.15M 1.28M
Gross profit 19.47M 13.66M 11.16M 3.22M 2.26M
Reconciled depreciation 1.45M 1.21M 0.91M 0.40M 0.32M
Ebit 3.91M 1.72M 0.68M -8.01M -4.61M
Ebitda 5.44M 2.92M 1.58M -7.51M -4.29M
Depreciation and amortization 1.53M 1.21M 0.91M 0.50M 0.32M
Operating income 5.54M 0.73M 1.20M -7.27M -7.28M
Other operating expenses 58.04M 43.86M 42.16M 22.89M 14.53M
Interest expense 2.60M 3.20M 2.31M 2.29M 2.67M
Tax provision -2.05M 0.00M -0.68M 0.00M -
Net interest income -2.75M -3.70M -2.83M -2.70M -2.67M
Income tax expense -2.05M - -0.68M 2.29M -6.60M
Total revenue 63.58M 44.59M 43.37M 15.62M 9.92M
Total operating expenses 13.93M 12.93M 9.96M 10.49M 6.87M
Cost of revenue 44.11M 30.93M 32.20M 12.40M 7.66M
Total other income expense net -4.23M -2.21M -0.53M 1.09M -0.26M
Net income from continuing ops 3.36M -1.49M -1.48M -6.55M -7.53M
Net income applicable to common shares - - - -6.55M -7.53M
Breakdown 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30
Type yearly yearly yearly yearly yearly
Date 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30
Total assets 63.93M 39.48M 36.51M 18.08M 14.98M
Intangible assets 1.58M - - - -
Other current assets 6.67M 7.65M 5.97M 0.37M -
Total liab 32.80M 30.90M 29.37M 24.00M 16.67M
Total stockholder equity 31.13M 8.59M 7.15M -5.92M -1.70M
Other current liab 2.97M 2.59M 1.49M 0.95M 1.62M
Common stock 134.87M 116.41M 115.04M 103.31M 102.50M
Capital stock 134.87M 116.41M 115.04M 103.31M 102.50M
Retained earnings -125.88M -129.24M -130.45M -133.68M -127.13M
Other liab - - - 0.39M 0.62M
Other assets - - - 0.09M 0.08M
Cash 6.36M 0.78M 1.03M 0.63M 4.20M
Total current liabilities 10.08M 28.53M 26.61M 21.37M 13.45M
Current deferred revenue - - 2.38M - -
Net debt 16.20M 19.99M 18.00M 15.95M 4.44M
Short term debt 0.36M 18.90M 16.69M - -
Short long term debt - 18.43M 16.30M 16.58M 8.64M
Short long term debt total 22.56M 20.77M 19.03M - -
Other stockholder equity 16.23M 15.63M 13.24M 18.22M 18.03M
Property plant equipment - - - 2.31M 2.87M
Total current assets 41.96M 29.42M 25.91M 15.68M 12.03M
Net tangible assets - - - -5.92M -1.70M
Net receivables 16.47M 11.29M 10.61M 6.31M 1.34M
Long term debt 20.74M - - - -
Inventory 12.45M 9.70M 8.27M 4.48M 4.67M
Accounts payable 6.75M 7.04M 6.05M 3.13M 1.66M
Accumulated other comprehensive income 5.91M 5.79M 8.58M - -
Non currrent assets other 6.87M 0.09M 0.46M - -
Non current assets total 21.98M 10.06M 10.61M 2.40M 2.95M
Capital lease obligations 1.81M 2.34M 2.73M 2.54M 2.89M
Breakdown 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30
Type yearly yearly yearly yearly yearly
Date 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30
Investments - -0.67M -0.90M -0.42M -0.56M
Change to liabilities - - - -0.04M -1.74M
Total cashflows from investing activities -12.04M -0.67M - -0.42M -0.56M
Net borrowings 3.35M 1.83M - 9.12M -1.64M
Total cash from financing activities 15.90M -0.63M 6.20M 7.89M 10.92M
Change to operating activities - - - -2.25M 0.63M
Net income 3.36M -1.49M -1.48M -9.21M -7.53M
Change in cash 5.58M -0.25M 0.41M -3.58M 3.08M
Begin period cash flow 0.78M 1.03M 0.63M 4.20M 1.12M
End period cash flow 6.36M 0.78M 1.03M 0.63M 4.20M
Total cash from operating activities 1.72M 1.04M -4.86M -8.82M -8.12M
Issuance of capital stock 11.58M 0.00M 7.17M 0.78M 12.94M
Depreciation 1.45M 1.21M 0.91M 0.50M 0.32M
Other cashflows from investing activities -0.82M -0.54M - -0.37M -0.37M
Dividends paid 0.00M 0.00M 0.00M 0.00M -
Change to inventory -3.04M -1.42M -0.72M -2.79M -2.64M
Change to account receivables -5.18M -0.73M -7.79M -1.50M 1.15M
Other cashflows from financing activities -3.83M -2.59M 39.62M 19.43M -1.53M
Change to netincome - - - 1.40M 1.70M
Capital expenditures 11.22M 0.67M 0.51M 0.20M 0.56M
Change in working capital -7.12M -2.25M -7.74M -6.37M -2.60M
Stock based compensation 1.76M 2.15M 1.17M 3.22M 0.54M
Other non cash items 4.32M 1.41M 2.96M 3.03M 1.16M
Free cash flow -9.50M 0.37M -5.36M -9.03M -8.68M

Peer Comparison*

Sector: Industrials Industry: Electrical Equipment & Parts

Stock Name
Change
(USD)
Price
(USD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
ELVA
Electrovaya Inc.		 -0.37
7.01%		 4.91 86.27 58.48 7.34 8.16 7.28 73.91
CYATY
Contemporary Amperex Technology Co., Limited		 -0.20
1.67%		 11.76 36.64 32.15 0.91 7.88 3.67 16.91
ABBNY
ABB Ltd		 -0.45
0.54%		 83.56 38.41 30.96 5.22 10.79 5.24 24.44
ABLZF
ABB Ltd		 -0.00
0.00%		 83.53 33.82 23.15 4.71 10.45 4.77 22.47
BE
Bloom Energy Corp		 -7.96
4.10%		 185.93 332.50 53.48 24.54 46.97 24.35 216.72

Profile*

Electrovaya Inc.

Electrovaya Inc. engages in the design, development, manufacture, and sale of lithium-ion batteries, battery management systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications in North America. It operates infinity battery systems comprising of low and high voltage systems. The company also operates solid state battery technology. In addition, it offers lithium-ion battery systems to power MHEV, including fork-lifts, as well as accessories, such as battery chargers to charge the batteries; lithium-ion batteries for robotic applications; lithium ion battery cell and modules for sales to OEM customers in the defense, construction, and other applications; high voltage battery systems for electric bus, truck, and defense applications; and industrial products for energy storage. The company was formerly known as Electrofuel Inc. and changed its name to Electrovaya Inc. in March 2002. Electrovaya Inc. was incorporated in 1996 and is headquartered in Mississauga, Canada.

6688 Kitimat Road, Mississauga, ON, Canada, L5N 1P8

905 855 4610

https://electrovaya.com

Name Title Year Born
Dr. Sankar Das Gupta DIC, Ph.D. Executive Chairman 1951
Dr. Rajshekar Das Gupta Ph.D. CEO & Director NA
Dr. James K. Jacobs MA, Ph.D. Co-Founder & Independent Director 1949
Mr. Francis John Gibson CFO & Secretary NA
Mr. Kyle O'Leary Director of Operations NA
Mr. Jason Roy Director of Corporate Development & Investor Relations NA
Dr. Jeremy Dang Ph.D. Vice President of Business & Project Development NA
Dr. Sankar Das Gupta Ph.D. Executive Chairman 1951
Dr. James K. Jacobs MA, Ph.D. Co-Founder & Director 1949
Mr. Jason Roy Vice President of Corporate Development & Investor Relations NA

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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