The Ugar Sugar Works Ltd is the flagship organization of the Shirgaokar Group of Companies, and is by far the sole major employer. It employs approximately 6000 full-time employees, and many more seasonal employees. The annual revenues exceed INR 600 crores. The company has been involved in the manufacture of white crystal sugar for over 65 years. The group also has plants in Jewargi and Bagalkot. The total sugar crushing capacity is approximately 19,000 tcd a day. USW is the main reason why the township of Ugar came into existence. In the early 1940s, Ugar Khurd was a small hamlet in the erstwhile princely state of Sangli. However, it had a few distinct advantages: the perennial river Krishna, fertile black soil, and a railway station that could be used to transport goods. Then, the ruler of
Sangli invited the late Dr.S.R.Shirgaokar, who had previous experience setting up a sugar factory at
Kolhapur. Soon after setting up a sugar plant, the company diversified its activities and started its own distillery in 1962–63. It added the liquor section in 1967–68. The company produces high quality premium brands like Old Castle Whisky, Gokak Falls Whisky, US Rum, Doctors Brandy, and Gagarin Vodka. The company's brands are well accepted by the market. Thereafter, the company further diversified and set up a first-in-its-kind-in India Co-Generation Power Plant of 44 MW. This was based on the principle of
bagasse based renewable sources of energy used as fuel. Out of this, 28 MW are being exported to the grid and the rest of the 16 MW are used for in-city consumption. ==Migration==