Abstract The variation in the tensile properties at 77 K and 300 K in warm-rolled (300 K) Cd–1% Ag alloy with deformation has been studied in longitudinal as well as transverse specimens. The low-temperature yield strength increases with warm rolling without much loss in ductility. The strength at 300 K, however, decreases with heavy warm deformation. From microstructural studies and X-ray investigations, it was observed that changes in grain size and texture occur during warm rolling. Both these changes are found to be important in deciding the tensile properties. The longitudinal and transverse strengths at 77 K vary linearly with l −½, where l is the average grain diameter, and thus they obey the Hall–Petch relation. The Hall-Petch slope, k, is lower in specimens with favourable {1013} texture while the intercept σo is higher when the {0002} texture is less favourable.