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<!--PIT V2.0 (30-04-2026)-->
<xbrli:xbrl xmlns:in-bse-co="http://www.bseindia.com/xbrl/co/2017-09-15/in-bse-co" xmlns:in-bse-co-roles="http://www.bseindia.com/xbrl/co/2017-09-15/in-bse-co-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-bse-co-type="http://www.bseindia.com/xbrl/co/2017-09-15/in-bse-co-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.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-bse-co-2017-09-15.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/bse-cg/ScripCode">532673</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-08</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="Disclosure1"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/bse-cg/ScripCode">532673</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-08</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-bse-co:ChangeInHoldingOfSecuritiesOfPromotersAxis"><in-bse-co:ChangeInHoldingOfSecuritiesOfPromotersDomain>Disclosure1</in-bse-co:ChangeInHoldingOfSecuritiesOfPromotersDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="Disclosure2"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/bse-cg/ScripCode">532673</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-08</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-bse-co:ChangeInHoldingOfSecuritiesOfPromotersAxis"><in-bse-co:ChangeInHoldingOfSecuritiesOfPromotersDomain>Disclosure2</in-bse-co:ChangeInHoldingOfSecuritiesOfPromotersDomain></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><xbrli:unit id="shares"><xbrli:measure>xbrli:shares</xbrli:measure></xbrli:unit><in-bse-co:ScripCode contextRef="MainI">532673</in-bse-co:ScripCode><in-bse-co:Symbol contextRef="MainI">KMSUGAR</in-bse-co:Symbol><in-bse-co:MSEISymbol contextRef="MainI">NA</in-bse-co:MSEISymbol><in-bse-co:NameOfTheCompany contextRef="MainI">K M Sugar Mills Limited</in-bse-co:NameOfTheCompany><in-bse-co:NameOfTheSignatory contextRef="MainI">Ritika Tandon</in-bse-co:NameOfTheSignatory><in-bse-co:DesignationOfSignatory contextRef="MainI">Company Secretary and Compliance Officer</in-bse-co:DesignationOfSignatory><in-bse-co:Place contextRef="MainI">Lucknow</in-bse-co:Place><in-bse-co:DateOfFiling contextRef="MainI">2026-09-08</in-bse-co:DateOfFiling><in-bse-co:ISINCode contextRef="MainI">INE157H01023</in-bse-co:ISINCode><in-bse-co:DisclosureUnderRegulation contextRef="MainI">Regulation 7 (2)</in-bse-co:DisclosureUnderRegulation><in-bse-co:RevisedFilling contextRef="MainI">false</in-bse-co:RevisedFilling><in-bse-co:TypeOfInstrument contextRef="Disclosure1">Equity</in-bse-co:TypeOfInstrument><in-bse-co:CategoryOfPerson contextRef="Disclosure1">Promoter</in-bse-co:CategoryOfPerson><in-bse-co:NameOfThePerson contextRef="Disclosure1">Lakshmi Kant Dwarkadas HUF</in-bse-co:NameOfThePerson><in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalNumberOfSecurity contextRef="Disclosure1" unitRef="shares" decimals="INF">10065900</in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalNumberOfSecurity><in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalPercentageOfShareholding contextRef="Disclosure1" unitRef="pure" decimals="INF">0.1094</in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalPercentageOfShareholding><in-bse-co:SecuritiesAcquiredOrDisposedNumberOfSecurity contextRef="Disclosure1" unitRef="shares" decimals="INF">1920000</in-bse-co:SecuritiesAcquiredOrDisposedNumberOfSecurity><in-bse-co:SecuritiesAcquiredOrDisposedValueOfSecurity contextRef="Disclosure1" unitRef="INR" decimals="0">3840000</in-bse-co:SecuritiesAcquiredOrDisposedValueOfSecurity><in-bse-co:SecuritiesAcquiredOrDisposedTransactionType contextRef="Disclosure1">Sell</in-bse-co:SecuritiesAcquiredOrDisposedTransactionType><in-bse-co:SecuritiesHeldPostAcquistionOrDisposalNumberOfSecurity contextRef="Disclosure1" unitRef="shares" decimals="INF">8145900</in-bse-co:SecuritiesHeldPostAcquistionOrDisposalNumberOfSecurity><in-bse-co:SecuritiesHeldPostAcquistionOrDisposalPercentageOfShareholding contextRef="Disclosure1" unitRef="pure" decimals="INF">0.0885</in-bse-co:SecuritiesHeldPostAcquistionOrDisposalPercentageOfShareholding><in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyFromDate contextRef="Disclosure1">2026-09-04</in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyFromDate><in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyToDate contextRef="Disclosure1">2026-09-04</in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyToDate><in-bse-co:ModeOfAcquisitionOrDisposal contextRef="Disclosure1">Others</in-bse-co:ModeOfAcquisitionOrDisposal><in-bse-co:DateOfIntimationToCompany contextRef="Disclosure1">2026-09-08</in-bse-co:DateOfIntimationToCompany><in-bse-co:ExchangeOnWhichTheTradeWasExecuted contextRef="Disclosure1">NA</in-bse-co:ExchangeOnWhichTheTradeWasExecuted><in-bse-co:DetailsOfChangeInHoldingOfSecuritiesOfPromotersEmployeeOrDirectorOfAListedCompanyAndOtherSuchPersonsTextBlock contextRef="Disclosure1">We hereby inform you that 1920000 equity shares, representing precentage  2.09% of the total paid up equity share capital of the Company, held by LK Jhunjhunwala HUF (Promoter), have been transmitted to Smt. Naina Devi Jhunjhunwala (Promoter Group), through transmission pursuant to dissolution.
It is further confirmed that there has been no change in the aggregate shareholding of the promoters and promoter group pre  and post transmission. The detailed shareholding pattern post transmission is enclosed herewith for your records.</in-bse-co:DetailsOfChangeInHoldingOfSecuritiesOfPromotersEmployeeOrDirectorOfAListedCompanyAndOtherSuchPersonsTextBlock><in-bse-co:TypeOfInstrument contextRef="Disclosure2">Equity</in-bse-co:TypeOfInstrument><in-bse-co:CategoryOfPerson contextRef="Disclosure2">Promoter and Director</in-bse-co:CategoryOfPerson><in-bse-co:NameOfThePerson contextRef="Disclosure2">Naina Devi Jhunjhunwala</in-bse-co:NameOfThePerson><in-bse-co:IdentificationNumberOfDirectorOrCompany contextRef="Disclosure2">01837824</in-bse-co:IdentificationNumberOfDirectorOrCompany><in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalNumberOfSecurity contextRef="Disclosure2" unitRef="shares" decimals="INF">18483348</in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalNumberOfSecurity><in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalPercentageOfShareholding contextRef="Disclosure2" unitRef="pure" decimals="INF">0.2009</in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalPercentageOfShareholding><in-bse-co:SecuritiesAcquiredOrDisposedNumberOfSecurity contextRef="Disclosure2" unitRef="shares" decimals="INF">1920000</in-bse-co:SecuritiesAcquiredOrDisposedNumberOfSecurity><in-bse-co:SecuritiesAcquiredOrDisposedValueOfSecurity contextRef="Disclosure2" unitRef="INR" decimals="0">3840000</in-bse-co:SecuritiesAcquiredOrDisposedValueOfSecurity><in-bse-co:SecuritiesAcquiredOrDisposedTransactionType contextRef="Disclosure2">Buy</in-bse-co:SecuritiesAcquiredOrDisposedTransactionType><in-bse-co:SecuritiesHeldPostAcquistionOrDisposalNumberOfSecurity contextRef="Disclosure2" unitRef="shares" decimals="INF">20403348</in-bse-co:SecuritiesHeldPostAcquistionOrDisposalNumberOfSecurity><in-bse-co:SecuritiesHeldPostAcquistionOrDisposalPercentageOfShareholding contextRef="Disclosure2" unitRef="pure" decimals="INF">0.2218</in-bse-co:SecuritiesHeldPostAcquistionOrDisposalPercentageOfShareholding><in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyFromDate contextRef="Disclosure2">2026-09-04</in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyFromDate><in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyToDate contextRef="Disclosure2">2026-09-04</in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyToDate><in-bse-co:ModeOfAcquisitionOrDisposal contextRef="Disclosure2">Others</in-bse-co:ModeOfAcquisitionOrDisposal><in-bse-co:DateOfIntimationToCompany contextRef="Disclosure2">2026-09-08</in-bse-co:DateOfIntimationToCompany><in-bse-co:ExchangeOnWhichTheTradeWasExecuted contextRef="Disclosure2">NA</in-bse-co:ExchangeOnWhichTheTradeWasExecuted><in-bse-co:DetailsOfChangeInHoldingOfSecuritiesOfPromotersEmployeeOrDirectorOfAListedCompanyAndOtherSuchPersonsTextBlock contextRef="Disclosure2">We hereby inform you that 1920000 equity shares, representing precentage  2.09% of the total paid up equity share capital of the Company, held by LK Jhunjhunwala HUF (Promoter), have been transmitted to Smt. Naina Devi Jhunjhunwala (Promoter Group), through transmission pursuant to dissolution.
It is further confirmed that there has been no change in the aggregate shareholding of the promoters and promoter group pre  and post transmission. The detailed shareholding pattern post transmission is enclosed herewith for your records.</in-bse-co:DetailsOfChangeInHoldingOfSecuritiesOfPromotersEmployeeOrDirectorOfAListedCompanyAndOtherSuchPersonsTextBlock></xbrli:xbrl>
