Probably yes. It is "probably" because
1) you need to know or to be able to find the path to your SD card on your android device. These paths are not at all standardized.
2) some devices don't allow writing to SD cards. If your device is one of those, then CC can't help you.
For more information see FAQ #11 in the thread
Calibre Companion Android App: Information, Change Log, and FAQ