The main objective of this research work is to study the rolling process in steel manufacturing industry which has been in use to produce high quality steel products. The entire research work has been initially carried out by practical observation of the process in the steel manufacturing industry, along with the introduction of sophisticated technology having number of stands associated with rolls made of spheroidal cast iron and alloy cast steel. The hot billet is passed through different stands to get correct size with a defect free surface, At initial stage the billet ranging from 200-205mm can passed through roughing stands made of alloy cast steel, further it is passed through intermediate and continued to pass through finishing stands to get smooth finished product,The displacement at each stage is practically observed for thorough understanding of the valuable rolling design methods, In this thesis reverse engineering is done based on the practical conditions in order to achieve required finishing with minimal deformation in the stands while producing high quality rolled product. At next stage of the research , it is analyzed that the material used to manufacture the stands at initial stage has less Isotropic elastic properties when compared to spherodial cast iron. Thus the shape of the billet remains same, Also, the deformations at different stags are observed using finite element method using ANSYS 15.0 software after designing a 3D model in CATIA V5 software. Thus, the results obtained during post-processing, shows that spheroidal cast iron or SG iron is the best material than Alloy cast steel which was initially considered to overcome maximum twisting at the center of the rolls when billet is allowed to pass through the groves optimized with appropriated radiu, and spacing to balance various parameters such as roll separation force, torque, elongation, spread and draft. All the possible solutions have been discussed and the essential theoretical calculations are considered to successfully validate the results with the finite element analysis of hot rolled design.