Solenoid casings are deep drawn and ironed components used in various sectors of engineering industries. Due to metallurgical and mechanical defects, the casings are rejected due to cracking issues at the lip of the casings. In the present work, two different sources of material for EDD (extra deep drawable) are chosen and characterized to determine the better option for solenoid casing manufacturing with less defects. Microstructure, mechanical properties and formability parameters like strain hardening coefficient (n) are correlated with each other. It is known that material with higher strain hardening coefficient has good formability. Non uniform mechanical properties in the material along and across the rolling direction can lead to earring in the component.