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<!--OBM V1.0 (01-01-2026)-->
<xbrli:xbrl xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2024-05-31/in-capmkt" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Announcements_Pertaining_To_Outcome_Of_Board_Meeting/2024-05-31/in-capmkt/in-capmkt-ent" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-types="https://www.sebi.gov.in/xbrl/2024-05-31/in-capmkt-types" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.w3.org/1999/xlink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2024-05-31.xsd"/><xbrli:context id="MainD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">506261</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-05-22</xbrli:startDate><xbrli:endDate>2026-05-22</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">506261</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-05-22</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="DividendD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">506261</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-05-22</xbrli:startDate><xbrli:endDate>2026-05-22</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="DividendI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">506261</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-05-22</xbrli:instant></xbrli:period></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">MODISONLTD</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">MODISON LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:TypeOfAnnouncementOfBoardMeeting contextRef="MainD">New</in-capmkt:TypeOfAnnouncementOfBoardMeeting><in-capmkt:FirstEventOfBoardMeeting contextRef="MainD">Dividend</in-capmkt:FirstEventOfBoardMeeting><in-capmkt:RemarksForWebsiteDissemination contextRef="MainI">The Board has recommended Divide @  % i.e Rs. __/- per Equity Share of Rs. 1/- eac\h, subject to approval of Shareholders of the Company at the ensuing Annual General Meeting.</in-capmkt:RemarksForWebsiteDissemination><in-capmkt:DateOfReport contextRef="MainI">2026-05-22</in-capmkt:DateOfReport><in-capmkt:WhetherPriorIntimationOfBoardMeetingConsideringInterimOrFinalDividendGivenToStockExchange contextRef="DividendI">true</in-capmkt:WhetherPriorIntimationOfBoardMeetingConsideringInterimOrFinalDividendGivenToStockExchange><in-capmkt:DateOfPriorIntimationSubmittedToStockExchangeOnBoardMeetingToConsiderDeclarationOfInterimOrRecommendationOfFinalDividend contextRef="DividendI">2026-05-14</in-capmkt:DateOfPriorIntimationSubmittedToStockExchangeOnBoardMeetingToConsiderDeclarationOfInterimOrRecommendationOfFinalDividend><in-capmkt:DateOfBoardMeetingConsideringDeclarationOfInterimOrRecommendationOfFinalDividend contextRef="DividendI">2026-05-22</in-capmkt:DateOfBoardMeetingConsideringDeclarationOfInterimOrRecommendationOfFinalDividend><in-capmkt:StartTimeOfBoardMeetingForAnnouncementOfDividend contextRef="DividendD">15:30:00</in-capmkt:StartTimeOfBoardMeetingForAnnouncementOfDividend><in-capmkt:EndTimeOfBoardMeetingForAnnouncementOfDividend contextRef="DividendD">17:00:00</in-capmkt:EndTimeOfBoardMeetingForAnnouncementOfDividend><in-capmkt:WhetherDeclarationOfInterimDividendOrRecommendationOfFinalDividendApprovedByTheBoard contextRef="DividendD">Yes</in-capmkt:WhetherDeclarationOfInterimDividendOrRecommendationOfFinalDividendApprovedByTheBoard><in-capmkt:FirstTypeOfDividend contextRef="DividendD">Final</in-capmkt:FirstTypeOfDividend><in-capmkt:RateOfFinalDividendRecommendedPerEquityShare contextRef="DividendI">300</in-capmkt:RateOfFinalDividendRecommendedPerEquityShare><in-capmkt:WhetherRecordDateOrBookClosureBeenFixedForFinalDividend contextRef="DividendI">false</in-capmkt:WhetherRecordDateOrBookClosureBeenFixedForFinalDividend><in-capmkt:NotesForRecordDateOrBookClosureHasNotBeenFixed contextRef="DividendI">No</in-capmkt:NotesForRecordDateOrBookClosureHasNotBeenFixed><in-capmkt:WhetherDateOfGeneralMeetingIsFixedForThePurposeOfFinalDividend contextRef="DividendI">false</in-capmkt:WhetherDateOfGeneralMeetingIsFixedForThePurposeOfFinalDividend><in-capmkt:NotesForDateOfGeneralMeetingIsNotFixedForThePurposeOfFinalDividend contextRef="DividendI">We shall inform you in due course the date on which the Company will hold its 43rd Annual General Meeting for the financial year ended March 31, 2026, record date for determining the entitlement for the Final Dividend and date of payment of dividend, if approved by the shareholders.</in-capmkt:NotesForDateOfGeneralMeetingIsNotFixedForThePurposeOfFinalDividend><in-capmkt:PeriodForWhichFinalDividendIsDeclared contextRef="DividendI">2025-2026</in-capmkt:PeriodForWhichFinalDividendIsDeclared></xbrli:xbrl>
