Texture evolution and microstructural changes during cold rolling and annealing of Fe-14Mn-6Si-9Cr-5Ni shape memory alloy have been investigated. The starting solution-annealed material has a nearly random texture with microstructure composed of equiaxed austenite grains with e martensite plates inside. Cold rolling induces a strong alloy type texture with Brass {011}á211ñ and Goss {011}á100ñ as major components. Annealing of the cold-deformed material produces a nearly random texture. The microstructural investigation reveals that with increase in cold deformation, the amount of stress-induced e and a¢ martensite volumes increase. The electron back-scattered diffraction (EBSD) phase mapping shows that reversion of the e martensite begins only after recrystallization sets in at a temperature of 1073 K.