Heusler alloy Mn50Ni40In10 was produced as preferentially textured ribbon flakes by melt spinning, finding the existence of martensitic-austenic transformation with both phases exhibiting ferromagnetic ordering. A microcrystalline three-layered microstructure of ordered columnar grains grown perpendicularly to ribbon plane was formed between two thin layers of smaller grains. The characteristic temperatures of the martensitic transformation were MS=213 K, Mf=173 K, AS=222 K, and Af=243 K. Austenite phase shows a cubic L21 structure (a=0.6013(3) nm at 298 K and a Curie point of 311 K), transforming into a modulated fourteen-layer modulation monoclinic martensite