In case you have $1,000 to speculate proper now and also you’re in search of a development inventory that isn’t getting the eye it deserves, it could be time to take a better have a look at Electrovaya (TSX: ELVA). Valued at a market cap of $517 million, ELVA inventory has greater than tripled within the final 12 months.
The Canada-based battery maker is just not a family title. However the prospects it serves are. Electrovaya makes superior lithium-ion batteries for among the most demanding industrial purposes on the earth, from warehouse forklifts at main retailers to defence automobiles to robotic methods.
Greater than a dozen Fortune 100 corporations belief the corporate’s know-how. And primarily based on the newest earnings outcomes and analyst projections, the expansion runway forward seems compelling.
Supply: Getty Photographs
Why Electrovaya is completely different from battery friends
Electrovaya has spent greater than 25 years creating its battery know-how. It now holds greater than 100 patents masking cell structure, security methods, and manufacturing. Its flagship product line, referred to as Infinity, makes use of a proprietary ceramic-based separator know-how that delivers a uncommon mixture: industry-leading security and exceptionally lengthy battery life.
That mixture issues enormously in industrial settings, the place a battery failure can halt operations at a distribution centre or, in defence purposes, compromise mission-critical gear.
Electrovaya serves what it estimates is a $20 billion-plus addressable market throughout materials dealing with, robotics, airport floor assist gear, defence, and vitality storage. It’s nonetheless early innings in most of these verticals, and that’s exactly what makes this fascinating.
The bull case for the Canadian development inventory
Electrovaya’s fiscal first quarter 2026 outcomes confirmed the type of progress that tends to draw investor consideration over time.
- Income got here in at $15.5 million, up 39% year-over-year (YoY).
- Gross margins improved to 32.9%, up from 30.5% in the identical quarter a 12 months in the past.
- The corporate posted $1 million in web revenue, its fourth consecutive quarter of profitability.
- Adjusted EBITDA (earnings earlier than curiosity, tax, depreciation, and amortization) hit $2 million, a 265% enhance from the $500,000 posted a 12 months earlier.
- Its working money circulation totaled $1.7 million, in contrast with an outflow of $300,000 within the year-ago interval.
Electrovaya additionally reaffirmed full-year income steerage of 30% development for fiscal 2026. And for a corporation simply now scaling into robotics, defence, and vitality storage, that will show conservative.
In accordance with ahead estimates from TIKR.com, analysts anticipate Electrovaya’s income to develop from $63.8 million in fiscal 2025 to $84.8 million in 2026, and $124.6 million in 2027, and attain $275.2 million by fiscal 2030. That’s a compound annual development fee (CAGR) of 33.9% over 5 years.
Internet revenue is predicted to observe the same trajectory. Analysts venture normalized web revenue rising from $3.4 million in fiscal 2025 to $51.6 million by 2030, a CAGR of 72.6%.
What subsequent for the TSX inventory?
First, business deliveries of a brand new high-voltage battery system, constructed for a number one forklift OEM (unique gear producer), are set to start in March 2026. That’s a significant product launch tied to a longtime manufacturing accomplice.
Second, the corporate’s Jamestown, New York, manufacturing unit enlargement is underway. Cell-level manufacturing within the facility is predicted to come back on-line in fiscal 2027, making Electrovaya eligible for as much as $35 per kilowatt-hour in manufacturing tax credit below the 45X manufacturing incentive.
Third, robotics deliveries began in January 2026 and are anticipated to speed up. The corporate is in discussions with three to 4 further robotic OEM companions. Defence contracts are rising, too, now spanning autonomous land automobiles, hybridized navy platforms, and submersible purposes.
None of that is priced in the way in which you’d anticipate for a inventory with this development profile.
For buyers with $1,000 and a three-to-five-year horizon, Electrovaya affords a uncommon mixture: actual income, actual income, a defensible know-how moat, and a number of development drivers simply beginning to come on-line.
That’s a tough mixture to search out proper now.