Kolkata, July 24 - India's leading dry cell battery manufacturer Eveready Industries is eyeing a growth of 10 percent in 2009-10 as against a revenue decline of eight percent the previous year.

'We hope the de-growth will be arrested, and we are expecting a 10 percent growth. Our sales volumes should grow by 55 percent,' Eveready executive vice-chairman and managing director Deepak Khaitan said at the company's 74th annual general meeting here Friday.

Khaitan also said the company has cut its debt burden in 2007-08, and that it hoped to become debt-free by selling off the land owned by its closed Hyderabad plant next year.

'We have 25 acres of land there. We have to give VRS (voluntary retirement scheme payments) to 25-30 workers. When real estate prices go up next year, we will sell it and become debt-free,' he said.

The company closed down the Hyderabad plant, which had about 200 employees, as a cost-cutting measure.

Khaitan said the Eveready management was negotiating with the labour unions about re-opening the Cossipore plant in Kolkata, which has been shut down since last September.