It has UV mapping so if your texture is a square it should work straight off.
Method: CreatCircle->edit mode->press ‘f’ -> Select vertices that are vertically aligned->press ‘j’ ->repeat for all -> add bend ->set axis -> select mesh pivot -> rotate to reorient the bend direction ( a quirk of Blender) .-> Add SubD Mod -> UVunwrap with Project from view to bounds.
Another way could be to create a circle, fill it with grid (under face heading). Then create a cylinder that you want to bend it to. Use a shrink wrap modifier (negative and project). Add a subdivision modifier, then a solidify (negative direction). For the holes, I took two vertices on the sides and bevelled them, then used loop tools to apply the circle function. Then when ready apply the shrink wrap and then solidify. UV (don’t use my quick example…do it better!). That’s another way.
100% correct - you have to change the orientation of the meshes axis. Weird, but there you go. There is an alternative, which might be easier to manipulate. Create an empty that is centered on your mesh and use that to drive the Bend - where it says axis origin:
Then you can rotate this on the individual x,y,z axis, one at a time until you find the correct one. It’ll be a 90º rotation, but I can’t know which as I don’t know what your original mesh orienation is - that’s decided by how you built the mesh - ie which view port or whether you have already rotated it and also on which axis you picked in the Bend menu.
This frustrates even me, but I’ve got used to it. The quicker way, is to directly rotate the meshes axis, choose Origins from this the menu - but be sure to untick this when you’re done changing the origin.