Evolution Texture and microstructure has been investigated in a Fe-14Mn-6Si-9Cr-5Ni shape memory alloy during cold rolling and annealing. The starting solution-annealed material show a nearly random texture with microstructure composed of equi-axed austenite grains with some ε martensite plates inside. Cold rolling induces a strong alloy type texture with Brass {011}<211> and Goss {011}<100> as major components. Annealing of the cold deformed material produces a nearly random texture. The microstructural investigation reveals that with increasing cold deformation the amount of stress induced ε and α’ martensite volume fraction increases. The electron back scattered diffraction (EBSD) phase mapping shows that reversion of the ε martensite starts only after commencement of recrystallization.