Incorporated on September 11, 1939, Ugar Sugar Works Limited (USWL) is one of the leading sugar factories in Karnataka. This Company was promoted by S S Shirgaokar and R V Shirgaokar. The Company is engaged in manufacture and sale of sugar, industrial and potable alcohol, and generation and distribution of electricity. The Company's plants are located at Ugarkhurd in Belagavi District and at Malli-Nagarhalli Village in Kalburgi District in the State of Karnataka.
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 set up Four Wind Mills in Tamilnadu for Wind Power Generation.
During 1998-99, the company has expanded 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 entered 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 set up a subsidiary company viz 'Ugar Power Generation and Consultancy Services Ltd' and it is getting good response.
The Company expanded crushing capacity from 7,500 TCD to 10,000 TCD and further expanded the Co-Generation capacity from 28 MW to 44 MW in 2003.
During the year 2009-10, the Company came out of the Joint Venture with M/s Sadashiva Sugars Ltd., during October, 2009 and the value of investment i.e. the equity shares amounting to Rs. 22,33,54,000/- was realized.
The Company commissioned 45 KLPD New Praj Distillery Unit at Ugar on 18 October, 2012 and as a result, the commercial production
started in the new distillery w.e.f. 20 October, 2012.
In 2022, the Board approved the Scheme of Merger between The Ugar Sugar Works Limited and Ugar Theaters Pvt. Ltd.