Is Electrovaya financially healthy?
Not really
Electrovaya earns only 3.0 times its interest bill, which leaves little room.
The numbers behind it
Net debt / EBITDA0.9 years
Cash vs. debt$6M vs. $23M
Current ratio6.0×Short-term assets for each $1 of bills due within a year
Interest coverage3.0×How many times operating profit covers the interest bill
How we decide
We measure debt in years of earnings (net debt / EBITDA): under 1 is very comfortable, 1 to 3 is manageable, above 3 is heavy. A company that earns less than 3 times its interest bill also counts as weak.
More questions about Electrovaya
Data as of Nov 13, 2026.