DOCSLIB.ORG

Kokuyo Camlin Limited. Initiation

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Kokuyo Camlin Limited. Initiation Kokuyo Camlin Limited (CAMLN) September 7, 2015 CMP: ₹99 Time Horizon – 12 Months Target: ₹135 Key Data (In ₹ Mn.) FY14 FY15 FY16E FY17E Bloomberg Code CAMLN IN Net Sales 4,704 5,439 6,391 7,620 V NSE Code KOKUYOCMLN EBITDA 26 168 304 495 BSE Code 523207 EBITDA Margin 0.6% 3.1% 4.8% 6.5% Sector Cons. Discretionary EPS (₹) (0.8) 0.5 1.1 2.5 A Industry Home & Office Prod. EV/Sales 2.1 1.8 1.6 1.3 Face Value (₹) 1.0 EV/EBITDA 383.6 59.9 33.1 20.3 L BV per share (₹) 21 P/E (x) (128.1) 198.3 87.4 39.9 Dividend Yield (%) 0.0% Price Performance CY12 CY13 CY14 YTD U 52 Week L/H(₹) 50 / 127 Absolute 54% -28% 76% 67% Market Cap. (₹ mn.) 9,965 Relative 26% -35% 45% 72% E Shareholding Pattern (as on Jun’15) Relative stock performance (Sep’14=100) 205 Jun-15 Mar-15 Dec-14 Sep-14 P Promoters 75.0% 75.0% 75.0% 75.0% 170 FII 0.5% 1.5% 2.8% 3.2% I 135 DII 0.3% 0.0% 0.0% 0.0% 100 C Bodies Corporate 4.0% 3.6% 3.3% 3.2% Others 20.3% 20.0% 18.9% 18.6% 65 Sep-14 Dec-14 Mar-15 Jun-15 Sep-15 k Total 100% 100% 100% 100% CAMLN Nifty Source: Company, Anand Rathi Research, Bloomberg Analyst: Narendra Solanki Anand Rathi Research [email protected] Kokuyo Camlin Limited (CAMLN) Two of the oldest brands ‘Kokuyo’ & ‘Camlin/Camel’ with unmatched consumer connect, strong brand equity Kokuyo Camlin Limited is over 80 years old company started in 1930s as Dandekar & Co. which got renamed as Camlin during 1941. Over the years, the Company has become synonymous with quality products for schools, offices and niche art markets. The Company has two of the most recognized and endearing brands in the country – CAMEL and CAMLIN. In 2012, Kokuyo S & T Ltd. Japan acquired majority stake in Camlin and rechristened the company as Kokuyo Camlin Limited. Kokuyo is a Japan based company with more than 100 years old history. It is a leading marketer in stationery, institutional furniture and catalogue sales and has presence in many countries in Asia. The vast range of products manufactured and marketed by the Company include inks, colors, writing instruments, technical and drawing instruments, office stationery, markers, fine art, notebooks and scholastic and hobby art materials. During the latest financial year 2015 the company has reported a growth of 15.6% in its revenues at ₹5,439 million as against ₹4,704 million in FY14. The growth was mainly due to increase both volume and realizations of certain products. Its EBITDA margins improved 250 basis points to 3.1% in FY15 at ₹168 million as against 0.6% in FY14 at ₹26 million and PAT margins improved 260 basis points to 0.9% at ₹49 million in FY15. The overall improvement in profitability of the company was due to lower cost of materials owing to product mix, decrease in cost of operation. In 2013, the company has embarked upon an ambitious mission to build up its capacities, capabilities and competencies and had raised funds for construction of state of the art manufacturing plant at Patalganga Industrial Area of MIDC. The construction has already started in January 2015 and management expects this plant to be operational by 2016. Kokuyo (parent) is continuously streamlining its Indian operations and has implemented various systems to improve operational and manufacturing competitiveness of the company. It is now focusing on introducing new and innovative products to the market through its network of 1500 dealers/distributors and 300000 retailers. In past it is has introduced Kokuyo notebooks in the Indian markets with remarkable success. We expect CAMLN to further improve its profitability in years to come and continue to grow its business through its existing product franchise as well as launch of new innovative products from its parent company. We initiate our coverage on Kokuyo Camlin Limited with a BUY rating and a target price of ₹135 per share. 2 Anand Rathi Research Kokuyo Camlin Limited (CAMLN) build over more than 80 years of history came together… History of the Company Period Key Events 1931 Started operations with Horse brand ink powders and tablets, followed by Camel ink. 1946 Dandekar and Company re-christened as Camlin. 1947 Ventured into pain balm, chalks, rubber stamp pads, gums and adhesives. 1962 Entered into art material market with oil, water and poster colors, geometry boxes and oil pastels. 1974 Tarapur factory started manufacturing of wooden pencils. 1982 All- India Camel Color Contest (AICCC) started. 1984 Camlin Fine Chemicals & Pharmaceuticals divisions started with a plant for drug intermediaries & antioxidants at Tarapur. 1987 Got listed on Bombay Stock Exchanges. 1989 Collaboration with Pilot Corp, Japan for manufacturing 0.5mm high polymer leads. 1995 Taloja plant was set up as part of marketing collaboration with Winsor and Newton (UK). 1998 AICCC registered 3 million entries for the contest. 2002 Specially ink group formed for ink development and manufacturing. 2003 Camlin Exam- school stationery brand was launched. 2008 Camlin Alphakids, a 100% subsidiary, opened a pre-school in Mumbai. 2010 Formed Partnership with Hayleys Consumer Products Ltd for distribution of products in Sri Lanka. 2011 Japan's Kokuyo entered into a deal to acquire 50.3% stake in the company for ₹3.6 bn. 2012 Kokuyo S & T Ltd. Japan acquired majority stake in Camlin Ltd. and rechristened the company as Kokuyo Camlin Limited. Kokuyo Camlin starts restructuring its processes. The company initiated a program for building Capacity, Capability and 2014 Competency. 2015 Kokuyo Camlin starts construction of its new integrated manufacturing facility. 3 Anand Rathi Research Kokuyo Camlin Limited (CAMLN) …with extensive product portfolio of over 2500 SKUs that address the wide & varied needs of its three broad segments. CAMLN Business Segment Products Wise School & Education Fine Art & Hobby Materials Office Stationery products products Notebooks Art Materials Gum & Paste Drawing Books Art Pastels Markers & Marker Inks Pencils & Pens Artists Oil Colors Scissors Fountain Pen & Ink Artists Acrylic Colors Staplers Color Pencils Canvas & Brushes Other Office Products Accessories Sketch Pens Painting Medium Plastic/Wax Crayons Water Color pencils Water Colors 3D Glitter, Sparkle Poster Colors Fabrica Coneliner Oil Pastels Hobby Mediums & Geometry Box Brushes, Others Technical Instruments, etc 4 Anand Rathi Research Kokuyo Camlin Limited (CAMLN) Broad segmentation of stationery industry by type and use. Stationery Segmentation by Type Stationery Segmentation by Use Notebook & Paper Writing Instruments School Stationery Office Stationery Computer & Daily use Stationery industry includes a wide range of paper products, writing instruments, computer and daily used stationery like staplers, erasers, binders, punch machine, children stationery and other related items. Global market for Writing and Marking Instruments is projected to reach US$17.5 billion by 2020, driven by product innovations, growing penchant for luxury writing instruments and increasing literacy rates in emerging countries. Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 7% over the analysis period. Growth in the region is led by increased emphasis on education, large base of students and corporates, and growing demand for quality writing gear. 5 Anand Rathi Research Kokuyo Camlin Limited (CAMLN) India stationery segment market size Stationery Industry segment Market size (₹ Bn.) Segment - Products wise market Computer & Daily use Office 24% Stationary, 50 School Notebooks & Stationary, Paper 51% Writing 90 Instruments 25% Source: Company, Anand Rathi Research Source: Company, Anand Rathi Research The Indian stationery industry is very heterogeneous comprising of a wide array of products ranging from pens to printing to notepads to inks to colors and many more. The industry is highly fragmented one, with the unorganized sector constituting almost 85%. The industry is also highly fragmented in terms of regions, with a large number of small units scattered all over the country. In terms of usage, the industry is broadly divided into office stationery and school stationery of which school stationery market is estimated to be around ₹90 billion while office stationery market is estimated to be around ₹50 billion. On product wise segmentation, Notebook & Paper products contributes around 51% while Writing Instruments and Computer and Daily use contributes 25% and 24% respectively. 6 Anand Rathi Research Kokuyo Camlin Limited (CAMLN) Demographic trends supportive of stationery market in India… 100% Demographic trends for share of Discretionary Discretionary 75% Expenses Expenses average household consumption: (53%) (70%) Rising discretionary 50% expenditure. Necessities 25% Necessities High probability of premium (47%) (30%) purchases. 0% 2005 2025 Rise in the average household Food, Beverages & Tobacco Apparel Housing Utilities income. Household Products Personal products & Services Transportation Communication Education & Recreation Healthcare Source: Mckinsey, Anand Rathi Research India with its rapidly burgeoning economy is underpinning growth for the office stationery market. A growing middle-class coupled with higher government spends on education is driving growth in the school and education segments. Households that can afford discretionary spending is likely to go up to 94 million by 2025 from present around 10 million with its middle class growing from ~50 million to 583 million by 2025. India is one of the fastest rising market in the world with a huge potential to tap as its current stationery market is highly un organized and fragmented. 7 Anand Rathi Research Kokuyo Camlin Limited (CAMLN) …with CAMLN best placed to muster through current phase on back of its strong brand recall and upcoming plant. Sales (₹ Mn.) & Sales Growth CAMLN Margins Profile 6,000 18% 10.0% 5,000 15% 6.5% 4,000 12% 3.0% 3,000 9% -0.5% FY10 FY11 FY12 FY13 FY14 FY15 2,000 6% FY10 FY11 FY12 FY13 FY14 FY15 -4.0% Sales Sales Growth (RHS) EBITDA Margins PAT Margins Source: Company, Anand Rathi Research Source: Company, Anand Rathi Research CAMLN has grown at a CAGR of ~10.5% since FY10 despite increase in competition from both organized and unorganized players in the market.
Load more

Recommended publications
  • KOKUYO Group CSR Report 2015 Detailed Version
    KOKUYO Group CSR Report Detailed Version Published by KOKUYO Co., Ltd. Corporate Communications, Corporate Administrations Department 6-1-1 Oimazato-minami, Higashinari-ku, Osaka 537-8686, Japan Direct inquiries to KOKUYO Co., Ltd. Customer Center Tel: 0120-201-594 (Domestic Only) Founded in 1905 Founder Zentaro Kuroda Wacho launched during the Spirit of“shō hyaku mai” Shop in Shinmachi The first trademark Taishō period “Kokuyo” Stationery pad with high Label of 3K Stationery Duplicate Telegram Slip Binder Head office, 1936 Sign for advertising Ink Ink kk55 quality paperboard Paper kk55 Field Notebook Bill First steel product Jun Mitsumata Hankeishi (Ruled papers Invoice Pad Yao Factory Ochanomizu Office (Steel filing cabinet) made of 100% mitsumata plant) Swivel chair Estimate Pad Kickoff meeting of Jewelry New head office, 1969 Live office advertisement Electronic Abacus Tack Index (outer case) Members (outer case) Portable box seat Lonely Little Fox ECIFFO Miss Blanche 1Corporate logo changed High-Grade Accounting Pad KuruKuruMeka (Ryogoku Kokugikan) (original mascot) in 1981 Dynafit Chair MX Desk System Title Brain Pochette Album Third-generation Keishipita Bezier Campus Note AGATA Hakobo Ratchkiss AGATA/D Kadokeshi Nursing Cart Dotliner Gratit ith ud W e Fifth-generation Kokuyoseki roll table Campus UP SAIBI Campus Note Corporate Philosophy/CSR Charter Corporate Enrich the World through Our Products Philosophy KOKUYO's CSR Grounded in the founding corporate philosophy of“Enrich the World through Our Products” the KOKUYO Group conducts business that is necessary for society, while remaining profitable and honest in its business Charter practices. In addition to complying with laws and regulations, we seek to maintain continuity of our business by acquiring the trust of all related stakeholders, investors, and, of course, our customers by fulfilling our social responsibilities as a corporate citizen.
    [Show full text]
  • Some Products in This Line Do Not Bear the AP Seal. Product Categories Manufacturer/Company Name Brand Name Seal
    # Some products in this line do not bear the AP Seal. Product Categories Manufacturer/Company Name Brand Name Seal Adhesives, Glue Newell Brands Elmer's Extra Strength School AP Glue Stick Adhesives, Glue Leeho Co., Ltd. Leeho Window Paint Gold Liner AP Adhesives, Glue Leeho Co., Ltd. Leeho Window Paint Silver Liner AP Adhesives, Glue New Port Sales, Inc. All Gloo CL Adhesives, Glue Leeho Co., Ltd. Leeho Window Paint Sparkler AP Adhesives, Glue Newell Brands Elmer's Xtreme School Glue AP Adhesives, Glue Newell Brands Elmer's Craftbond All-Temp Hot AP Glue Sticks Adhesives, Glue Daler-Rowney Limited Rowney Rabbit Skin AP Adhesives, Glue Kuretake Co., Ltd. ZIG Decoupage Glue AP Adhesives, Glue Kuretake Co., Ltd. ZIG Memory System 2 Way Glue AP Squeeze & Roll Adhesives, Glue Kuretake Co., Ltd. Kuretake Oyatto-Nori AP Adhesives, Glue Kuretake Co., Ltd. ZIG Memory System 2Way Glue AP Chisel Tip Adhesives, Glue Kuretake Co., Ltd. ZIG Memory System 2Way Glue AP Jumbo Tip Adhesives, Glue EK Success Martha Stewart Crafts Fine-Tip AP Glue Pen Adhesives, Glue EK Success Martha Stewart Crafts Wide-Tip AP Glue Pen Adhesives, Glue EK Success Martha Stewart Crafts AP Ballpoint-Tip Glue Pen Adhesives, Glue STAMPIN' UP Stampin' Up 2 Way Glue AP Adhesives, Glue Creative Memories Creative Memories Precision AP Point Adhesive Adhesives, Glue Rich Art Color Co., Inc. Rich Art Washable Bits & Pieces AP Glitter Glue Adhesives, Glue Speedball Art Products Co. Best-Test One-Coat Cement CL Adhesives, Glue Speedball Art Products Co. Best-Test Rubber Cement CL Adhesives, Glue Speedball Art Products Co.
    [Show full text]
  • Preferred by Professionals the Classic 207 — the Professional’S First Choice
    207 Preferred by Professionals The Classic 207 — the Professional’s First Choice. Its comfortable textured grip allows for control as smooth, even-flowing uni Super Ink™ locks in ideas, protecting them from water, fading, & fraud. Product UPC NumberShort Ink UOM Tip Product UPC NumberShort UOM Tip Code Description Color Size Code Description Size PIL31002072838310026Pilot G2BlackDZ0.5 mm$30.80 UBC61255 030246612552 uni-ball 207DZ 0.5 mm $26.52 PIL31003 072838310033 Pilot G2 BlueDZ 0.5 mm $30.80 UBC61256 030246612569 uni-ball 207DZ 0.5 mm $26.52 PIL31004 072838310040 Pilot G2 RedDZ 0.5 mm $30.80 UBC61257 030246612576 uni-ball 207DZ 0.5 mm $26.52 PIL31020 072838310200 Pilot G2 BlackDZ 0.7 mm $30.80 UBC33950 030246339503 uni-ball 207DZ 0.7 mm $26.52 PIL31021 072838310217 Pilot G2 BlueDZ 0.7 mm $30.80 UBC33951 030246339510 uni-ball 207DZ 0.7 mm $26.52 PIL31022 072838310224 Pilot G2 RedDZ 0.7 mm $30.80 UBC33952 030246339527 uni-ball 207DZ 0.7 mm $26.52 PIL31022 072838312563 Pilot G2 BlackDZ 1.0 mm $30.80 UBC1790895 030246003213 uni-ball 207DZ 1.0 mm $26.52 PIL31257072838312570Pilot G2BlueDZ-1.0 mm$30.80 UBC1790896 030246003213 uni-ball 207DZ 1.0 mm $26.52 PIL31128 072838311283 Pilot G2Asst 8pk 0.7 mm $20.00 UBC40110 030246401101 uni-ball 207 8pk 0.7 mm $26.52 8pk Color Asst includes: Black, Blue, Burgundy, Green, Pink, Purple, Red, Turq 8pk Color Asst includes: Black, Blue, Green, Light Blue, Orange, Pink, Purple, Red The Professional’s First Choice The 207TM gel pen consistently produces thick, vibrant colors with minimal pressure applied.
    [Show full text]
  • Quarterly Illustrated Vintage Pen Catalog [email protected] Issue #57 - December 2010
    Gary & Myrna Lehrer’s Quarterly Illustrated Vintage Pen Catalog [email protected] Issue #57 - December 2010 See the Catalog in full color on the web site. For about a week you’ll need a password for access (be sure to also see what’s remaining from previous Catalogs). WEB SITE PAS SWORD FOR CATALOG #57: (www.gopens.com): BOOK Catalog #57 Feature: New-old-stock, Mint-in-box items for your gift list Incredible “Extraordinary Pens” Over 265 Items 20+ Manufacturers Represented Rider “Snake” & Waterman Fine-Silver Taper Cap Pens Very rare Pelikans & several Wahl Oversize Deco-bands Contact Information: Tel: (203) 389-5295 email: [email protected] Fax: (859) 909-1882 Call until 10:30 PM Eastern Time; Fax anytime We check our email often Subscription Expired: A (4) on your mailing label means your subscription has expired. “Internet Only” renewal is $10. “Hard Copy” Renewal is $25 US and $35 Foreign (see website for details). Received a sample copy? Don’t forget to subscribe ! Please see inside front page for abbreviations and other important information! Gary & Myrna Lehrer 16 Mulberry Road Woodbridge, CT 06525-1717 December 2010 - CATALOG #57 Here’s Some Other Important Information : GIFT CERTIFICATES : Available in any denomination. No extra cost! No expiration! Always fully refundable! REPAIRS - CONSIGNMENT - PEN PURCHASES : We do the full array of pen repairs - very competitively priced. Ask about consignment rates for the Catalog (we reserve the right to turn down consignments), or see the web site for details. We are also always looking to purchase one pen or entire collections.
    [Show full text]
  • Pilot Pen Corporation and Ryder Faster, Smarter, Better, Together
    Case Study Pilot Pen Corporation and Ryder Faster, Smarter, Better, Together. FLEET MANAGEMENT | DEDICATED TRANSPORTATION | SUPPLY CHAIN SOLUTIONS Pilot Corporation is the largest writing instrument company in Japan and the fastest growing maker of pens, pencils and markers in the U.S. Across Mexico, students, consumers and businesses use an array of Pilot products to express themselves in all kinds of ways, too. When Pilot wanted to enter the booming Mexican market, the company turned to Ryder to help. CHALLENGE SOLUTION RESULTS Establish a customer service A multi-client warehouse, Optimized infrastructure to import, store transportation and distribution Established a customer service and ship Pilot Pen products network tailored to operate in and distribution operation without using corporate assets to all customers in Mexico Mexico’s complex business and provide a framework for environment. Process Efficient growth, innovation and improvements that streamline LEAN warehouse efficiencies cost savings. everything from order picking enable rapid growth without and fulfillment to inventory increasing headcount storage and management, carrier selection and billing, Scalable Handling inventory that’s grown and shipment tracking. from 500,000 to 2.5 million pieces in eight years Pilot Pen Mexico: making a mark in a needs of businesses and consumers since 1918. Expandable booming market The company currently has subsidiaries in Added 200 new products including Mexico is reclaiming its status as a global trade Canada, U.K., France, Germany, Hong Kong, the FriXion line of erasable pens, PV5 water-based ink pens and and logistics hub, thanks, in part to a series Indonesia, Italy, Malaysia, Singapore, Taiwan, new B2P bottle-to-pen product of free trade agreements.
    [Show full text]
  • Brush Pen Size Guides
    Downstroke Size Guide You might have a huge collection of pens, but did you know that you can't treat them all the same? Your lettering size has to change with the specific pen. A brush script "e" is the best letter to test a pen out with. The pen should allow you to write at a size that allows the loop of the "e" to be the same width (or a hair more) than the width of the widest downstroke. It should also be large enough to form a beautiful teardrop shape inside of the loop. Use the pen grouping worksheets to know which size guide worksheet would work best for each of your pen. Practicing with each pen at the proper size will allow you to make your lettering skills shine! xo, Extra Sma Brush Pens: Cocoiro Letter Pen Monami Plus Pen 3000 Enzō by Pilot Sma Brush Pens: Zebra Funwari Fude Brush Pen Tombow Fudenosuke Hard Nib Pilot Futayaku Double-Sided Brush Pen Zebra Disposable Brush Pen (Extra Fine) Sma Medium Brush Pens: Tombow Fudenosuke Soft Nib Pentel Brush Tip Sign Pen Zebra Disposable Brush Pen (Fine) Crayola Super Tips Pigma FB Kuretake Fudegokochi All Rights Reserved. For Personal, non-commercial Use only. © 2020 Amanda Arneill Ltd | amandaarneill.com Not for resale, reuse, or distribution of any kind . Medium Brush Pens: Sharpie Brush Tip Pen (Zipper Case) Caran D’Ache Fibralo Brush Sakura Pigma Brush Stabilo Pen 68 Brush Marker Faber Castell PITT Artist Pen (B) All Rights Reserved. For Personal, non-commercial Use only. © 2020 Amanda Arneill Ltd | amandaarneill.com Not for resale, reuse, or distribution of any kind .
    [Show full text]
  • Analysis of Writing Ink Dyestuffs by TLC and FT-IR and Its Application to Forensic Science
    ANALYTICAL SCIENCES APRIL 1998, VOL. 14 269 1998 © The Japan Society for Analytical Chemistry Analysis of Writing Ink Dyestuffs by TLC and FT-IR and Its Application to Forensic Science Kazuhiro TSUTSUMI* and Kazuya OHGA** *Criminal Investigation Laboratory, Oita Prefecture Police Headquarters, Otemachi, Oita 870, Japan **Department of Applied Chemistry, Faculty of Engineering, Oita University, Dannoharu, Oita 870–11, Japan Black, blue and red writing pens were classified into various groups using the Rf values and color tones of dyestuff bands separated by normal-phase thin-layer chromatography (TLC) of their inks. The classification is effective for the prelimi- nary identification of pens used in crime scenes. A microsampling technique was proposed for the TLC analysis of minute quantities of inks on questioned documents. Furthermore, a combination of reflectance-mode microscope/Fourier transform infrared spectroscopy and the pin-point condensation technique was proved to be useful for the precise discrim- ination of trace amounts of analogous water-soluble dyestuffs on TLC plates. Keywords Forensic science, ink, dyestuff, thin-layer chromatography, Fourier transform infrared spectroscopy Various writing implements have often been used at of them were kindly supplied by their manufacturers. crime scenes in Japan. One of the purposes for the Reference dyestuffs were obtained from manufacturers examination of writing ink is to specify writing imple- and the Identification Reference Data Center, National ments. A number of papers have been published Police Agency, Tokyo, Japan. Water was purified by regarding techniques for forensic examinations, includ- reverse osmosis (Millipore Milli RO15) and deioniza- ing visible spectrophotometry1,2, thin-layer chromatog- tion. Developing organic solvents for TLC were of raphy (TLC)1–4, X-ray microanalysis1, microspec- reagent grade, and were distilled before use.
    [Show full text]
  • A Fountain Pen Story
    A Fountain Pen Story Bibek Debroy A Fountain Pen Story Bibek Debroy © 2020 Observer Research Foundation All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without permission in writing from ORF. Attribution: Bibek Debroy, “A Fountain Pen Story,” June 2020, Observer Research Foundation. Observer Research Foundation 20 Rouse Avenue, Institutional Area New Delhi, India 110002 [email protected] www.orfonline.org ORF provides non-partisan, independent analyses on matters of security, strategy, economy, development, energy and global governance to diverse decision-makers including governments, business communities, academia and civil society. ORF’s mandate is to conduct in-depth research, provide inclusive platforms, and invest in tomorrow’s thought leaders today. Design and Layout: simijaisondesigns Cover image: Getty Images / Tim Robberts ISBN: 978-93-90159-50-5 Gandhi and Ambedkar 1 imited-edition fountain pens are luxury items, much like jewellery. Some of the most expensive fountain pens in the world include LMont Blanc, Caran d’Ache, and Aurora. Many would recall that not too long ago, a controversy erupted over Mont Blanc’s limited-edition “Gandhi pens” and a case was filed before the Kerala High Court. There were two limited editions in fact, one in silver and the other in gold, a ‘Limited Edition 3000’ (i.e., 3,000 of it were manufactured) and a Limited Edition 241 (‘241’ for the 241 miles of the Salt March; 241 pieces of it were made). Both kinds had an image of Mahatma Gandhi on the nib. Mont Blanc’s decision to manufacture these pens provoked massive controversy: to begin with, it violated the Emblems and Names (Prevention of Improper Use) Act of 1950, which restricts use of the name or pictorial representation of Mahatma Gandhi.
    [Show full text]
  • Writing Instruments
    121 CONTENTS Uni Jetstream Pens 122 Uni Rollerball Gel Ink Pens 123 Uni Rollerball Liquid Ink Pens 124 Uni Ballpoint Pens 125 Uni Markers 126 Writing Instruments Uni Promark Highlighters 127 Uni Pencils And Erasers 127 Uni Correction Pens 127 Uni Sample Pads 127 Uni Hangsell Range 128 Pilot Erasable Pens 129 Pilot Begreen Pens 129 Pilot Ballpoint Pens 130 Pilot Rollerball Liquid Ink Pens 131 Pilot Rollerball Gel Ink Pens 132 Pilot Fineline Pens 132 Pilot Point-Of-Sale Material 133 Pilot Markers 134 Pilot Correction Tape 135 Pilot Highlighters 135 Pilot Hangsell Range 136 Warwick Pens 137 Warwick Markers 137 Warwick Highlighters 137 Bic Ballpoint Pens 138 Product Information 138 121 122 UNI JETSTREAM PENS PREMIER Jetstream Premier offers a new level of writing comfort, with a retractable The new sensation – soft touch air click mechanism and quick drying ink that does not smudge. the power of speed writing! 249795 Medium Blue 249796 Medium Black A fantastic combination of the ballpoint and rollerball pen Refills technologies, Jetstream pens... 249683 Medium Blue 249684 Medium Black Medium 0. 45 Writing Instruments ...are ultra-smooth ...have a vivid ...and are completely flowing. writing line. smudge free. Jetstream pens are smoother than oil-based ballpoints, and faster drying Tip: Stainless steel than water-based ink. It is the first rollerball pen that even left-handed Ball: 1.0mm tungsten carbide writers can use without smudging. Barrel: ABS & silicon gel grip Enjoy the best writing performance in Uni history! Ink Colours: Blue, black All the qualities of the very popular Jetstream but in a convenient retractable Also available in the executive looking classic style, with cap.
    [Show full text]
  • FINE WRITING INSTRUMENTS: the EUROPEAN COLLECTION Monday 14 December 2015 Bonhams 1793 Limited Bonhams 1793 Ltd Directors Bonhams UK Ltd Directors Registered No
    FINE WRITING INSTRUMENTS: THE EUROPEAN COLLECTION Monday 14 December 2015 Bonhams 1793 Limited Bonhams 1793 Ltd Directors Bonhams UK Ltd Directors Registered No. 4326560 Robert Brooks Co-Chairman, Colin Sheaf Chairman, Gordon McFarlan, Andrew McKenzie, Registered Office: Montpelier Galleries Malcolm Barber Co-Chairman, Harvey Cammell Deputy Chairman, Simon Mitchell, Jeff Muse, Mike Neill, Montpelier Street, London SW7 1HH Colin Sheaf Deputy Chairman, Jonathan Baddeley, Antony Bennett, Matthew Charlie O’Brien, Giles Peppiatt, Peter Rees, Matthew Girling CEO, Bradbury, Lucinda Bredin, Simon Cottle, Iain Rushbrook, John Sandon, Tim Schofield, +44 (0) 20 7393 3900 Patrick Meade Group Vice Chairman, Andrew Currie, Paul Davidson, Jean Ghika, Veronique Scorer, James Stratton, Roger Tappin, +44 (0) 20 7393 3905 fax Geoffrey Davies, Jonathan Horwich, Charles Graham-Campbell, Miranda Leslie, Ralph Taylor, Shahin Virani, David Williams, James Knight, Caroline Oliphant. Richard Harvey, Robin Hereford, Asaph Hyman, Michael Wynell-Mayow, Suzannah Yip. David Johnson, Charles Lanning, FINE WRITING INSTRUMENTS: THE EUROPEAN COLLECTION Monday 14 December 2015 at 14.00 101 New Bond Street, London VIEWING ENQUIRIES CUSTOMER SERVICES IMPORTANT INFORMATION Thursday 10 December Ivan Briggs Monday to Friday 08.30 to 18.00 The United States Government 9:00 - 16:30 + (1) 415 503 3255 +44 (0) 20 7447 7448 has banned the import of ivory Friday 11 December [email protected] into the USA. Lots containing 9:00 - 16:30 [email protected] As a courtesy to intending ivory are indicated by the Sunday 13 December bidders, Bonhams will provide a symbol Ф printed beside the 11:00 - 15:00 SHIPPING written Indication of the physical lot number in this catalogue.
    [Show full text]
  • Company Overview
    Non-Durable Household Products KOKUYO CAMLIN LTD. September 11, 2012 Company Overview CMP Rs. 39.9 BSE Code 523207 Kokuyo Camlin Ltd. started its business in 1931 as Dandekar & Co. with BSE ID KOKUYOCMLN Horse brand ink powders and tablets. The popular fountain pen ink of India ‘Camel Ink’ appeared just thereafter and soon became a household brand. High/Low 1Y (Rs.) 72.9 / 30.8 In 1946 it was incorporated as a private company in the name of Camlin Average Volume (3M) 21,337 Private Ltd and in 1988 became a public limited company. The Market Cap (Rs. Cr.) 275 company is engaged in production of art materials and stationery items for students, professionals and office usage. The company has collaborations Shareholding % Jun-12 Mar-12 with Pilot Corporation, Winsor and Newton, U.K. The head office is located Promoters 63.97 63.97 at Andheri, Mumbai, Maharashtra. DIIs# 0.01 0.01 In May 2011, Kokuyo S&T Company Ltd., a subsidiary of the leading FIIs# 4.74 5.23 Japanese stationery, furniture and mail-order giant Kokuyo Co. Ltd., Public & Others 31.28 30.79 acquired controlling stake in Camlin Ltd. and the company is now known as Kokuyo Camlin Ltd. Stock Chart ( Relative to Sensex) Company Fundamentals Strong brand equity and consumer preference 128 With over 80 years of experience in the business, Kokuyo Camlin Limited 98 has a strong brand presence in India being a household name for stationery and art materials. 68 Established Distribution Network 38 The company leverages on its strong pan-India network penetrating 55 11-Sep-11 11-Mar-12 11-Sep-12 million households through over 3 lac retail outlets in the country.
    [Show full text]
  • 2019 Freshman Architecture Kit
    2019 FRESHMAN ARCHITECTURE KIT DRAFTING BOARD & DESK SET UP QTY COMPANY ARC107 VBC77-6 Vyco Board Cover 36" x 48" 1 ALVIN GRAY/WHITE ARC107 924 1/2" 3M double sided transfer tape 1/2"" 36YD 1 3M ARC107 34100D3L 6IN1 SCREWDRIVER 1 TOOLBASIX ARC107 84-031W Pair of plyers 6-inch needle nose 1 STANLEY ARC107 CUSTOM 30X42" DRAFTING BOARD 1 HOMESTEAD DOORS ARC107 BP865CS26D Cabinet Handle 3in-Brushed Chrome 1 Amerock ARC107 CCX88056 8/32X 1-34" Fasteners 2 Midwest ARC107 FE-S518-PS Bumber Rubber 7/8 White w/screws 2 Prosource ARC107 1101-42 1101-42 42"PARALLEL STRAIGHTEDGE 1 ALVIN SECURITY QTY COMPANY ARC107 1500D Combination Lock 1 MASTERLOCK CUTTING EQUIPMENT QTY COMPANY ARC107 OL300 Olfa Brand Knife OLFA 300 1 OLFA ARC107 AB10B Olfa Blades 10/pk. 1 OLFA ARC107 15015 EXCEL #1 K1 KNIFE W/15 BLADES 1 EXCEL ARC107 1106087 Swivel Blade Plasticutter 1 CRAFTICS ARC107 1446 SCISSORS 6" 1 3M ARC107 SS3 3" metal cutting triangle 1 ALVIN ARC107 AA17934 Cutting Mat 18"x24" GREEN&BLACK 1 ART ALTERNATIVES ARC107 49-4 49-4 THE CHOPPER ONE 1 NORTHWEST SHORT LINE MODEL MAKING & DRAWING EQUIPMENT QTY COMPANY ARC107 PKPT145 Circle Template 1 PACIFIC ARC ARC107 AA27010 Architect Triangular Scale 12" 1 ART ALTERNATIVES ARC107 AA27074 Stainless Steel Ruler 24" 1 ART ALTERNATIVES ARC107 CTAT8C Adjustable Triangle 8" 1 C-THRU ARC107 CTS45010 TRIANGLE 45/90 STYRENE W/ INK EDGE 10" CLEAR 1 C-THRU ARC107 CTS39010 TRIANGLE 30/60 STYRENE W/ INK EDGE 10" CLEAR 1 C-THRU ARC107 DL800010802 Sobo Glue 8oz.
    [Show full text]