Probably not, but maybe.
Hook-up A/C adaptor and plug into wall socket and into laptop.
If laptop turns on, then yes, it is a battery-related problem.
If that does not work, see if you can detect any kind of pattern to the flashing of the red light because the pattern is used as a diagnostic..... like two quick red flashes, andthen a short red flash, then two quick red flashes. etc. That's just an example but often there is a pattern.