Failures of rolls occur due to improper manufacturing and operational parameters. Prematurely failed (spalled) roll samples collected from a reputed steel plant were examined for their chemistry, inclusion content, microstructures, carbide characteristics, hardness and retained austenite content. The residual stresses were also measured on the inner and outer surfaces of the spalled roll pieces. The higher content of retained austenite was primarily responsible for the spalling of indigenous rolls for which subzero treatment has been recommended. Several suggestions have also been made for smooth operation of the mill and consequently for the life extension of work rolls.