Missile and rocket motor cases are often fabricated by welding process. The replacement of welded hardware with the flow formed construction eliminates many problems associated with welded joints. Data on the cold workability of the material in different heat treatment conditions is essential for the flow forming of the material. The cold workability of a 0.3C-CrMoV grain refined steel processed by air melting and electroslag refining was studied in annealed and Q&T conditions through cold rolling process. The effect of heat treatment on the strength properties of the rolled materials was also studied. The observed behaviour is explained in the light of the results of the microstructural characterization.