Rolling and annealing is a crucial technology to produce electrical steel sheets. This technology is not just aimed to control the geometry of steel sheets but more importantly to enhance the magnetic properties of the final products via appropriate microstructure and crystallographic texture. In this study, the evolution of microstructures and textures of an Fe-1.2 wt.% Si alloy through the entire processing route (from reheating, warm rolling to annealing) is monitored by electron back-scatter diffraction. Plastic flows of the material during conventional and asymmetric rolling are analyzed in detail based on geometric parameters of the rolling gaps. Deformation textures are accurately predicted by the full-constraint Taylor and advanced Lamel (ALAMEL) crystal plasticity models. The development of recrystallization textures is accounted for by the plastically stored energy in deformed crystals, which in turn is approximated by the plastically dissipated power (i.e., the Taylor factor) as predicted by the full constraint Taylor model. Although asymmetric warm rolling does not produce an improved texture or microstructure for electrical steels, the present study provides useful information on the evolution of the recrystallization microstructure and texture in steels with a complex strain history after asymmetric warm rolling.