The influence of accelerated cooling and coiling temperature is studied in a microalloyed steel grade in order to investigate the strengthening owing to phase transformation in the presence of microalloying elements. A Nb-V microalloyed steel grade was deformed in the austenitic range followed by controlled quenching to simulate rolling and runout table cooling conditions. Cooling rate was varied from 100 to 150 °C/sec, while coiling temperatures were varied between 475 to 625 °C, with 25 °C step. Decrease in transformation temperature in conjunction with accelerated cooling resulted in non-equiaxed ferrite structures with array of phase morphologies. Intermediate transformation temperatures produced increase in strength concurrent with observed peak broadening in X-ray diffraction. In addition, microstructural modelling is done using Quench properties module of JMatPro under experimental conditions.