The life cycle phases of rolls of cold rolling mill consist of extraction of raw material, manufacturing, use and recycling. During each phase of life it consumes several inputs in the form of resources like energy, material, water etc and emit outputs in the form of air, water & solid emissions which creates the heavy environmental burdon and leads to global warming potential, acidiphication, eutrophication etc. This paper gives the brief information about the history of LCA, views and definations of Indian and foreign authors, method of data collection, formulation of questions to identify goal and scope, formulation of the inventory, categorization of impacts and their evaluation. The paper mainly focuses on the methodology used for assessment which enables to measure the environmental performance of an individual product as well as overall performance of the firm which leads the company towards the journey of sustainable development.