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The hexagonal barrel has fine basketweave engraving* on three flats, alternated with smooth flats; one smooth flat has "DOWTY" engraved on it in block letters. The cap is stamped "MADE IN ENGLAND" and "ROLLED GOLD" on two flats. This is a solidly-made pencil, all metal as can be seen with the nose cone removed, with a propel-repel-eject mechanism. The cap covers no eraser, but a smaller brass cap that fits into the lead storage compartment, and has a hole in the dome sized to allow one piece of lead to be shaken out. It looks like it had a clip between the top of the barrel and the cap, but it's been broken off, leaving just a "C"-shaped ring, and that blemish on one flat is probably where the ball of the clip rested: there's a slight indentation there.

I don't know much about English propelling pencil makers, though ...

* Under magnification, the "basketweave" is just wavy lines.