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<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2026-03-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Action_Initiation_Or_Action_Taken_Or_Order_Passed/2026-03-31/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="http://www.sebi.gov.in/xbrl/2026-03-31/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-2026-03-31.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544847</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-30</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_ActionsTaken1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544847</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-30</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ActionsTakenOrOrdersPassedAxis"><in-capmkt:ActionsTakenOrOrdersPassedDomain>ActionsTakenOrOrdersPassedDomain1</in-capmkt:ActionsTakenOrOrdersPassedDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_ActionsTaken1_PersonsAgainstWhomActionsTaken1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544847</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-30</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember 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dimension="in-capmkt:PersonsAgainstWhomActionsTakenOrOrdersPassedAxis"><in-capmkt:PersonsAgainstWhomActionsTakenOrOrdersPassedDomain>PersonsAgainstWhomActionsTakenOrOrdersPassedDomain1</in-capmkt:PersonsAgainstWhomActionsTakenOrOrdersPassedDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_Signatories1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544847</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-30</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:SignatoriesAxis"><in-capmkt:SignatoriesDomain>SignatoriesDomain1</in-capmkt:SignatoriesDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:unit id="INR"><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unit><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:NSESymbol contextRef="MainI">MANIPALHOS</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">Manipal Health Enterprises Limited</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">544847</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE459N01021</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncement contextRef="MainI">New</in-capmkt:TypeOfAnnouncement><in-capmkt:TypeOfEvent contextRef="MainI">Action(s) taken or orders passed (sub-para 20)</in-capmkt:TypeOfEvent><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting contextRef="MainI">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting><in-capmkt:DateOfOccurrenceOfEventOrInformation contextRef="MainI">2026-10-30</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainI">17:20:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:RemarksWebsiteDissemination contextRef="MainI">Pursuant to Regulations 30 of SEBI Listing Regulations, read with  para A, Part A of Schedule III, we hereby inform you that the subsidiaries of the Company have received orders from the GST authorities, details of which are provided hereunder:

1.	Order passed by the Additional Commissioner of Revenue (Appeal), Large Tax payers Unit, Kolkata, West Bengal received on August 14, 2026.

2.	Order passed by the Joint Commissioner, Large Tax payers Unit, Kolkata, West Bengal received on September 11, 2026.

Please note that the delay in intimation was on account of the delayed receipt of the relevant orders and supporting documents.</in-capmkt:RemarksWebsiteDissemination><in-capmkt:DateOfReport contextRef="MainI">2026-10-30</in-capmkt:DateOfReport><in-capmkt:TypeOfActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">Imposition of fine or penalty</in-capmkt:TypeOfActionsTakenOrOrdersPassed><in-capmkt:ActionsTakenOrOrdersPassedBy contextRef="I_ActionsTaken1">Statutory Authority</in-capmkt:ActionsTakenOrOrdersPassedBy><in-capmkt:NameOfAuthorityFromWhomActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">Additional Commissioner of Revenue (Appeal) Large Tax payers 
Unit, Kolkata, West Bengal</in-capmkt:NameOfAuthorityFromWhomActionsTakenOrOrdersPassed><in-capmkt:NumberOfPersonsAgainstWhomActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1" unitRef="pure" decimals="0">1</in-capmkt:NumberOfPersonsAgainstWhomActionsTakenOrOrdersPassed><in-capmkt:ActionsTakenOrOrdersPassedAgainst contextRef="I_ActionsTaken1_PersonsAgainstWhomActionsTaken1">Subsidary</in-capmkt:ActionsTakenOrOrdersPassedAgainst><in-capmkt:NameOfPersonAgainstWhomActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1_PersonsAgainstWhomActionsTaken1">Manipal Hospitals Eastern India Private Limited (formerly known as Medica Hospitals Private Limited)</in-capmkt:NameOfPersonAgainstWhomActionsTakenOrOrdersPassed><in-capmkt:TypeOfCommunicationReceivedForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">Order has been received  u/s 107(11) of the CGST Act, 2017 pursuant to appeal filed against order in original dated 09-08-2024 for FY 2019-20 wherein demand  of Rs. 3,77,52,668/- has been confirmed on account of multiple issues mainly in relation to input tax credit and outward supplies along with penalty of Rs. 37,75,266/- u/s 73(9) of CGST Act, 2017 and interest u/s 50 CGST Act, 2017</in-capmkt:TypeOfCommunicationReceivedForActionsTakenOrOrdersPassed><in-capmkt:NatureAndDetailsOfTheActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">Issue of order by the Appellate Authority, Tribunal or Court in GST APL-04 u/s section 107(11) of the WBGST Act, 2017</in-capmkt:NatureAndDetailsOfTheActionsTakenOrOrdersPassed><in-capmkt:DateOfReceiptOfCommunicationReceivedForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">2026-08-14</in-capmkt:DateOfReceiptOfCommunicationReceivedForActionsTakenOrOrdersPassed><in-capmkt:BriefDetailsOfTheMaterialContentsOfTheCommunicationReceivedForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">The Company has received the order  u/s 107(11) of the CGST Act, 2017 pursuant to appeal filed against order in original dated 09-08-2024 for FY 2019-20 wherein demand  of Rs. 3,77,52,668/- has been confirmed on account of multiple issues mainly in relation to input tax credit and outward supplies along with penalty of Rs. 37,75,266/- u/s 73(9) of CGST Act, 2017 and interest u/s 50 CGST Act, 2017</in-capmkt:BriefDetailsOfTheMaterialContentsOfTheCommunicationReceivedForActionsTakenOrOrdersPassed><in-capmkt:PeriodForWhichCommunicationWouldBeApplicableForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">Pursuant  to appeal filed against order in original dated 09-08-2024 for FY 2019-20</in-capmkt:PeriodForWhichCommunicationWouldBeApplicableForActionsTakenOrOrdersPassed><in-capmkt:ExpectedImpactOfActionsTakenOnFinancialAndOperationalOrOtherActivitiesOfTheListedEntity contextRef="I_ActionsTaken1">There is no material impact on financial, no impact on operation or other activities of the Company due to the intimation of tax payable. These Orders are currently appealable &amp; we will exercise our right to appeal.</in-capmkt:ExpectedImpactOfActionsTakenOnFinancialAndOperationalOrOtherActivitiesOfTheListedEntity><in-capmkt:DetailsOfAnyAberrationsOrNonCompliancesOrViolationsOrContraventionsIdentifiedByTheAuthorityInTheCommunicationForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">On account of multiple issues mainly in relation to input tax credit and outward supplies</in-capmkt:DetailsOfAnyAberrationsOrNonCompliancesOrViolationsOrContraventionsIdentifiedByTheAuthorityInTheCommunicationForActionsTakenOrOrdersPassed><in-capmkt:AmountOfFineOrPenalty contextRef="I_ActionsTaken1" unitRef="INR" decimals="0">3775266</in-capmkt:AmountOfFineOrPenalty><in-capmkt:DetailsOfAnyPenaltyOrRestrictionOrSanctionImposedPursuantToTheCommunicationForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">The Company has received the order  u/s 107(11) of the CGST Act, 2017 pursuant to appeal filed against order in original dated 09-08-2024 for FY 2019-20 wherein demand  of Rs. 3,77,52,668/- has been confirmed on account of multiple issues mainly in relation to input tax credit and outward supplies along with penalty of Rs. 37,75,266/- u/s 73(9) of CGST Act, 2017 and interest u/s 50 CGST Act, 2017</in-capmkt:DetailsOfAnyPenaltyOrRestrictionOrSanctionImposedPursuantToTheCommunicationForActionsTakenOrOrdersPassed><in-capmkt:DetailsOfRegulatoryActionsOrSanctions contextRef="I_ActionsTaken1">NA</in-capmkt:DetailsOfRegulatoryActionsOrSanctions><in-capmkt:ActionsTakenByListedCompanyWithRespectToTheCommunicationForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">These Orders are currently appealable &amp; our subsidiary will exercise its right to appeal.</in-capmkt:ActionsTakenByListedCompanyWithRespectToTheCommunicationForActionsTakenOrOrdersPassed><in-capmkt:AnyOtherRelevantInformationForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">Please note that the delay in intimation was on account of the delayed receipt of the relevant orders and supporting documents.</in-capmkt:AnyOtherRelevantInformationForActionsTakenOrOrdersPassed><in-capmkt:TypeOfActionsTakenOrOrdersPassed contextRef="I_ActionsTaken2">Imposition of fine or penalty</in-capmkt:TypeOfActionsTakenOrOrdersPassed><in-capmkt:ActionsTakenOrOrdersPassedBy contextRef="I_ActionsTaken2">Statutory Authority</in-capmkt:ActionsTakenOrOrdersPassedBy><in-capmkt:NameOfAuthorityFromWhomActionsTakenOrOrdersPassed contextRef="I_ActionsTaken2">Joint Commissioner, Large Tax payers Unit, Kolkata, West Bengal.</in-capmkt:NameOfAuthorityFromWhomActionsTakenOrOrdersPassed><in-capmkt:NumberOfPersonsAgainstWhomActionsTakenOrOrdersPassed contextRef="I_ActionsTaken2" unitRef="pure" decimals="0">1</in-capmkt:NumberOfPersonsAgainstWhomActionsTakenOrOrdersPassed><in-capmkt:ActionsTakenOrOrdersPassedAgainst contextRef="I_ActionsTaken2_PersonsAgainstWhomActionsTaken1">Subsidary</in-capmkt:ActionsTakenOrOrdersPassedAgainst><in-capmkt:NameOfPersonAgainstWhomActionsTakenOrOrdersPassed contextRef="I_ActionsTaken2_PersonsAgainstWhomActionsTaken1">Manipal Hospitals Eastern India Private Limited (formerly known as Medica Hospitals Private Limited)</in-capmkt:NameOfPersonAgainstWhomActionsTakenOrOrdersPassed><in-capmkt:TypeOfCommunicationReceivedForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken2">Order has been received  u/s 76(3) read with Sections 76(4)/76(6) Of The WBGST/CGST Act, 2017 &amp; read with Section 20 Of the IGST Act, 2017 in respect of Audit Report issued u/s 65(6) of the WBGST/CGST, 2017</in-capmkt:TypeOfCommunicationReceivedForActionsTakenOrOrdersPassed><in-capmkt:NatureAndDetailsOfTheActionsTakenOrOrdersPassed contextRef="I_ActionsTaken2">Order in terms Of Section 76(3) read with Sections 76(4)/76(6) Of The WBGST/CGST Act, 2017 &amp; read with Section 20 Of the IGST Act, 2017 in respect of Audit Report issued u/s 65(6) of the WBGST/CGST, 2017</in-capmkt:NatureAndDetailsOfTheActionsTakenOrOrdersPassed><in-capmkt:DateOfReceiptOfCommunicationReceivedForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken2">2026-09-11</in-capmkt:DateOfReceiptOfCommunicationReceivedForActionsTakenOrOrdersPassed><in-capmkt:BriefDetailsOfTheMaterialContentsOfTheCommunicationReceivedForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken2">The Company has received the order  u/s 76(3) of the CGST Act, 2017 dated 11-09-2026 for the FY 2021-22 wherein demand  of Rs. 4,22,95,004/- has been confirmed on account of supply of drugs and consumables to inpatients along with penalty of Rs. 4,22,95,004/- u/s 76(2) of CGST Act, 2017 and interest u/s 50 CGST Act, 2017.</in-capmkt:BriefDetailsOfTheMaterialContentsOfTheCommunicationReceivedForActionsTakenOrOrdersPassed><in-capmkt:PeriodForWhichCommunicationWouldBeApplicableForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken2">Order dated dated 11-09-2026 for the FY 2021-22</in-capmkt:PeriodForWhichCommunicationWouldBeApplicableForActionsTakenOrOrdersPassed><in-capmkt:ExpectedImpactOfActionsTakenOnFinancialAndOperationalOrOtherActivitiesOfTheListedEntity contextRef="I_ActionsTaken2">There is no material impact on financial, no impact on operation or other activities of the Company due to the intimation of tax payable. These Orders are currently appealable &amp; we will exercise our right to appeal.</in-capmkt:ExpectedImpactOfActionsTakenOnFinancialAndOperationalOrOtherActivitiesOfTheListedEntity><in-capmkt:DetailsOfAnyAberrationsOrNonCompliancesOrViolationsOrContraventionsIdentifiedByTheAuthorityInTheCommunicationForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken2">On account of  supply of drugs and consumables to inpatients</in-capmkt:DetailsOfAnyAberrationsOrNonCompliancesOrViolationsOrContraventionsIdentifiedByTheAuthorityInTheCommunicationForActionsTakenOrOrdersPassed><in-capmkt:AmountOfFineOrPenalty contextRef="I_ActionsTaken2" unitRef="INR" decimals="0">42295004</in-capmkt:AmountOfFineOrPenalty><in-capmkt:DetailsOfAnyPenaltyOrRestrictionOrSanctionImposedPursuantToTheCommunicationForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken2">The Company has received the order  u/s 76(3) of the CGST Act, 2017 dated 11-09-2026 for the FY 2021-22 wherein demand  of Rs. 4,22,95,004/- has been confirmed on account of supply of drugs and consumables to inpatients along with penalty of Rs. 4,22,95,004/- u/s 76(2) of CGST Act, 2017 and interest u/s 50 CGST Act, 2017.</in-capmkt:DetailsOfAnyPenaltyOrRestrictionOrSanctionImposedPursuantToTheCommunicationForActionsTakenOrOrdersPassed><in-capmkt:DetailsOfRegulatoryActionsOrSanctions contextRef="I_ActionsTaken2">NA</in-capmkt:DetailsOfRegulatoryActionsOrSanctions><in-capmkt:ActionsTakenByListedCompanyWithRespectToTheCommunicationForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken2">These Orders are currently appealable &amp; our subsidiary will exercise its right to appeal.</in-capmkt:ActionsTakenByListedCompanyWithRespectToTheCommunicationForActionsTakenOrOrdersPassed><in-capmkt:AnyOtherRelevantInformationForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken2">Please note that the delay in intimation was on account of the delayed receipt of the relevant orders and supporting documents.</in-capmkt:AnyOtherRelevantInformationForActionsTakenOrOrdersPassed><in-capmkt:NameOfTheSignatory contextRef="I_Signatories1">Sathish K R</in-capmkt:NameOfTheSignatory><in-capmkt:DesignationOfTheSignatory contextRef="I_Signatories1">Company Secretary &amp; Compliance Officer</in-capmkt:DesignationOfTheSignatory><in-capmkt:DateOfOfTheSignatory contextRef="I_Signatories1">2026-10-30</in-capmkt:DateOfOfTheSignatory><in-capmkt:PlaceOfOfTheSignatory contextRef="I_Signatories1">Bengaluru</in-capmkt:PlaceOfOfTheSignatory></xbrli:xbrl>
