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Home CompaniesElectrovaya Inc.

Electrovaya Inc.

Industrials Electrical Equipment & Parts
PortfolioPortfolio WatchlistWatchlist
Company price
7.32 CAD -0.04 ( 0.54%)
Last update at 2026-11-04T14:49:00Z
VOLUME
18045
Market Cap
642.98M
P/E
86.80

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
7.32
Low
7.58
High
52 Week Price Range
3.55
Low
16.21
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 Inc. develops and manufactures lithium-ion battery cells and systems for industrial vehicles and stationary energy-storage applications. Long-term growth may be supported by secular electrification and increasing demand for commercial and grid storage, and investors may find exposure to its proprietary cell technology and small-cap positioning attractive.

The company faces material risks from intense competition with larger battery manufacturers, volatile raw-material costs and execution and financing risk to scale commercial production.

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
7.36
Dividend Yield
-
Revenue TTM
63.83M
Revenue Per Share
1.63
Gross Profit TTM
19.72M
Debt / Equity
1.01
ROE
16.94%
Net Debt
21.63M
ROCE
7.55%
Diluted EPS TTM
0.15

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 -6.55M -7.53M
Net income 4.70M -1.49M -1.48M -6.55M -7.53M
Selling general administrative 5.43M 6.09M 4.85M 4.13M 3.25M
Selling and marketing expenses 2.93M 2.94M 1.90M 1.15M 1.28M
Gross profit 25.44M 13.66M 11.16M 4.33M 2.26M
Reconciled depreciation - 1.21M - - -
Ebit 4.07M 1.71M 0.68M -4.50M -4.61M
Ebitda 5.59M 2.92M 1.58M -3.99M -4.29M
Depreciation and amortization 1.53M 1.21M 0.91M 0.50M 0.32M
Operating income 7.62M 0.73M 1.20M -7.09M -7.28M
Other operating expenses 81.63M 43.86M 42.16M 23.57M 14.53M
Interest expense 3.85M 3.20M 2.31M 2.70M 2.67M
Tax provision -2.05M 0.00M - - -
Interest income 4.23M 2.21M - 0.55M 0.26M
Net interest income - -3.70M - - -
Income tax expense -2.05M - -0.68M 2.70M 2.67M
Total revenue 89.25M 44.59M 43.37M 19.17M 9.92M
Total operating expenses 17.82M 12.93M 9.96M 8.72M 6.87M
Cost of revenue 63.81M 30.93M 32.20M 14.85M 7.66M
Total other income expense net - -2.21M -0.53M 0.55M -0.26M
Net income from continuing ops - -1.49M - - -
Net income applicable to common shares 3.36M -1.49M - -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
Other current assets -8.05M 7.65M 6.00M 3.90M 1.82M
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 2.47M 2.56M 1.49M 1.29M 2.01M
Common stock 134.87M 116.41M 115.04M 103.31M 102.50M
Capital stock - 116.41M - - -
Retained earnings -125.88M -129.24M -130.45M -133.68M -127.13M
Other assets 8.93M - - - -
Cash 9.76M 0.78M 1.03M 0.63M 4.20M
Cash and equivalents 6.36M - - - -
Total current liabilities 10.08M 28.53M 26.61M 21.37M 13.45M
Current deferred revenue - - 2.38M 0.07M 1.00M
Net debt 21.63M 19.99M 18.00M 18.49M 7.33M
Short term debt 0.86M 18.90M 16.69M 16.88M 8.78M
Short long term debt - 18.43M - - -
Short long term debt total 31.39M 20.77M 19.03M 19.11M 11.53M
Other stockholder equity 16.23M 15.63M 13.97M 10.96M 9.59M
Property plant equipment 13.04M - - - -
Total current assets 41.96M 29.42M 25.91M 15.68M 12.03M
Net receivables 22.92M 11.29M 10.61M 6.68M 1.34M
Long term debt 21.05M - - - -
Inventory 17.32M 9.70M 8.27M 4.48M 4.67M
Accounts payable 6.75M 7.07M 6.05M 3.13M 1.66M
Accumulated other comprehensive income 5.91M 5.79M 8.58M 13.49M 13.34M
Non currrent assets other 6.87M 0.86M 0.46M 0.09M 0.08M
Non current assets total 21.98M 10.06M 10.61M 2.40M 2.95M
Capital lease obligations - 2.34M - - -
Long term debt total 22.51M - - - -
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 - - -
Total cashflows from investing activities -15.92M -0.67M - -0.42M -0.56M
Total cash from financing activities 24.29M -0.63M 6.20M 9.52M 10.92M
Net income 3.36M -1.49M -1.48M -6.55M -7.53M
Change in cash 8.70M -0.25M 0.41M -3.58M 3.08M
Begin period cash flow 1.06M 1.03M 0.63M 4.20M 1.12M
End period cash flow 9.76M 0.78M 1.03M 0.63M 4.20M
Total cash from operating activities -0.57M 1.04M -4.86M -11.81M -8.12M
Issuance of capital stock - 0.00M - - -
Depreciation 1.45M 1.21M 0.91M 0.40M 0.32M
Other cashflows from investing activities -4.70M -0.54M - -0.37M -
Dividends paid - 0.00M - - -
Change to inventory -3.04M -1.42M -0.72M 0.19M -2.64M
Change to account receivables -5.18M -0.73M - -7.22M 1.78M
Sale purchase of stock 16.38M 0.13M - 0.78M 12.94M
Other cashflows from financing activities -1.97M -2.46M 39.62M 9.24M -1.53M
Capital expenditures 11.22M 0.12M 0.51M 0.05M 0.56M
Change in working capital -7.12M -2.25M -7.74M -7.06M -2.60M
Stock based compensation 1.76M 2.15M 1.17M 3.22M 0.54M
Other non cash items 2.04M 1.41M 2.29M 0.04M 1.16M
Free cash flow -9.50M 0.91M -5.36M -11.86M -8.68M

Peer Comparison*

Sector: Industrials Industry: Electrical Equipment & Parts

Stock Name
Change
(CAD)
Price
(CAD)
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.		 -0.04
0.54%		 7.32 86.80 55.56 10.07 7.78 7.03 71.32
BLDP
Ballard Power Systems Inc		 0.08
3.65%		 2.27 - 98.04 12.84 1.58 4.29 -6.21
HPS-A
Hammond Power Solutions Inc		 -12.67
5.34%		 224.68 13.41 11.74 1.22 3.30 1.29 9.02
GRID
Tantalus Systems Holding Inc		 0.02
0.46%		 4.38 - 833.33 6.28 32.50 4.43 122.62
HMM-A
Hammond Manufacturing Company Limited		 5.17
19.82%		 31.25 5.45 - 0.43 1.08 0.65 4.32

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. James K. Jacobs MA, Ph.D. Co-Founder & Director 1949
Mr. Jason Roy Vice President of Corporate Development & Investor Relations NA
Dr. Sankar Das Gupta Ph.D. Executive Chairman 1951

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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