Electrovaya (TSX:ELVA) Interest Expense : C$-3.65 Mil (TTM As of Mar. 2024)

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What is Electrovaya Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Electrovaya's interest expense for the three months ended in Mar. 2024 was C$ -2.08 Mil. Its interest expense for the trailing twelve months (TTM) ended in Mar. 2024 was C$-3.65 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Electrovaya's Operating Income for the three months ended in Mar. 2024 was C$ 0.95 Mil. Electrovaya's Interest Expense for the three months ended in Mar. 2024 was C$ -2.08 Mil. Electrovaya's Interest Coverage for the quarter that ended in Mar. 2024 was 0.46. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Electrovaya Interest Expense Historical Data

The historical data trend for Electrovaya's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Electrovaya Interest Expense Chart

Electrovaya Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Interest Expense

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-2.81

-4.10

-3.38

-3.06

-3.12

Electrovaya Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Mar24
Interest Expense	Get a 7-Day Free Trial															-3.78	-0.66	-0.69	-0.88	-2.08

Electrovaya Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was C$-3.65 Mil.

Electrovaya (TSX:ELVA) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Electrovaya's Interest Expense for the three months ended in Mar. 2024 was C$-2.08 Mil. Its Operating Income for the three months ended in Mar. 2024 was C$0.95 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Mar. 2024 was C$2.86 Mil.

Electrovaya's Interest Coverage for the quarter that ended in Mar. 2024 is calculated as

Interest Coverage	=	-1	*	Operating Income (Q: Mar. 2024 )	/	Interest Expense (Q: Mar. 2024 )
	=	-1	*	0.952	/	-2.078
	=	0.46

The higher the ratio, the stronger the company's financial strength is.

Warning Sign:

Ben Graham prefers companies' interest coverage to be at least 5. Electrovaya Incs earnings cannot cover its interest expense. If the situation continues, the company may have to issue more debt.

Electrovaya (TSX:ELVA) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Electrovaya Inc (TSX:ELVA) » Definitions » Interest Expense

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ELVA:USA 4EV0:Germany

Address

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

Website

https://www.electrovaya.com

Electrovaya Inc designs develop and manufacture proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation and other specialized applications. It is a technology-focused company with extensive IP. The company generates revenue from the sale of batteries and battery systems. Business operations are segmented based on large format batteries and others. This technology offers enhanced safety and industry leading battery longevity. Geographically it earns key revenue from the United States.

Executives

Raj Dasgupta

Senior Officer