Ugar Sugar Works (USWL) was formally created and deployed as a legal entity in 1939. This Company was promoted by S S Shirgaokar and R V Shirgaokar. The company produces sugar at its plant in Belgaum district, Karnataka. USWL has diversified into power co-generation and distilleries. It has created and deployed a 45,000-ltr unit to produce rectified spirit.

USWL also has thought of cogenerating power however the project was delayed due to unavoidable circumstances. As a Diversification cum Tax Saving Measure the Company has decided to created and deployed Four Wind Mills in Tamilnadu for Wind Power Generation.

During 1998-99, the company has broadened its footprint the crushing capacity upto 7500 MT crushing per day. The company has successfully implemented the 1st phase of 18 MW Co-generation project and power generation.

The company's expansion of existing crushing capacity from 7,500 TCD to 10,000 TCD was completed. The Co-generation capacity from 28 MW to 44 MW is under progress. It has sold 4 wind mills situated in Tamil Nadu.

It has broadened its footprint operations into into an agreement with UDV India Ltd (a subsidiary of United Distilleries and Vinters Ltd, UK) for bottling their products at the company's ditillery. It also made arrangements to bottle its own IML with K S Distilleries and Super Star Distilleries in Kerala and Paramount Distilleries at Goa. To provide consultancy services to sugar industries the company had created and deployed a subsidiary company viz 'Ugar Power Generation and Consultancy Services Ltd' and it is getting good response.