<?xml version="1.0" encoding="UTF-8"?>
<!--NOS V1.0 (10-04-2026)-->
<xbrli:xbrl xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2024-05-31/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/Notice_Of_Shareholders_Meeting/2024-05-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Notice_Of_Shareholders_Meeting/2024-05-31/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" 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-capmkt-ent-2024-05-31.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">532673</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-04-25</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="D_DetailofResolution1"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">532673</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-04-25</xbrli:startDate><xbrli:endDate>2026-04-25</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ResolutionOrAgendaAxis"><in-capmkt:ResolutionOrAgendaDomain>ResolutionOrAgendaDomain1</in-capmkt:ResolutionOrAgendaDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_DetailofResolution1"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">532673</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-04-25</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ResolutionOrAgendaAxis"><in-capmkt:ResolutionOrAgendaDomain>ResolutionOrAgendaDomain1</in-capmkt:ResolutionOrAgendaDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:NameOfTheCompany contextRef="MainI">K.M.SUGAR MILLS LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="MainI">KMSUGAR</in-capmkt:NSESymbol><in-capmkt:TypeOfAnnouncement contextRef="MainI">New</in-capmkt:TypeOfAnnouncement><in-capmkt:DateOfOccurrenceOfEvent contextRef="MainI">2026-05-30</in-capmkt:DateOfOccurrenceOfEvent><in-capmkt:TimeOfOccurrenceOfEvent contextRef="MainI">11:00:00</in-capmkt:TimeOfOccurrenceOfEvent><in-capmkt:RemarksForWebsiteDissemination contextRef="MainI"> &lt;BR&gt; 
IN CONTIUNATION OF SHARE HOLDERS MEETING DATED 30.05.2026, AT 11:AM THE CREDITORS MEETINSH SHALL BE HELD AS FOLLOWS:- &lt;BR&gt; 
 &lt;BR&gt; 
Convening the Meeting of UNsecured Creditos  of the Company for their requisite approval on the proposed Scheme of Arrangement for Demerger between K M Sugar Mills Limited (“Demerged Company”/ “the Company”/ “KMSM”) and KM Spirits and Allied Industries Limited (“Resulting Company”/ “KMSAIL”) and their respective shareholders and creditors ("Scheme of Arrangement") convened pursuant to the directions of the Hon'ble National Company Law Tribunal, Allahabad Bench (“Hon’ble Tribunal”) vide its order dated March 24, 2026 on 30.05.2026 at 12: 30 pm.</in-capmkt:RemarksForWebsiteDissemination><in-capmkt:DateOfReport contextRef="MainI">2026-04-25</in-capmkt:DateOfReport><in-capmkt:EventForNoticeOfShareholdersMeeting contextRef="MainI">NCLT/ Court Convened Meeting</in-capmkt:EventForNoticeOfShareholdersMeeting><in-capmkt:ModeOfShareholdersMeeting contextRef="MainI">Video Conference (VC) or Other Audio-Visual Means (OAVM)</in-capmkt:ModeOfShareholdersMeeting><in-capmkt:NumberOfShareholdersMeeting contextRef="MainI">1</in-capmkt:NumberOfShareholdersMeeting><in-capmkt:DayOfShareholdersMeeting contextRef="MainI">SATURDAY</in-capmkt:DayOfShareholdersMeeting><in-capmkt:DateOfShareholdersMeeting contextRef="MainI">2026-05-30</in-capmkt:DateOfShareholdersMeeting><in-capmkt:ShareholdersMeetingCommencementTime contextRef="MainI">11:00:00</in-capmkt:ShareholdersMeetingCommencementTime><in-capmkt:PlaceOfShareholdersMeeting contextRef="MainI">LUCKNOW</in-capmkt:PlaceOfShareholdersMeeting><in-capmkt:NumberOfAgendaOrBusinessToBeTransacted contextRef="MainI" unitRef="pure" decimals="0">1</in-capmkt:NumberOfAgendaOrBusinessToBeTransacted><in-capmkt:TypeOfResolution contextRef="I_DetailofResolution1">Special Resolution</in-capmkt:TypeOfResolution><in-capmkt:CategoryOfResolution contextRef="I_DetailofResolution1">Restructuring/Scheme of Arrangement/Loans</in-capmkt:CategoryOfResolution><in-capmkt:SubCategoryOfResolution contextRef="I_DetailofResolution1">Scheme of Arrangement</in-capmkt:SubCategoryOfResolution><in-capmkt:BriefDetailsOfResolution contextRef="D_DetailofResolution1">Approval on the proposed Scheme of Arrangement for Demerger between K M Sugar Mills Limited (“Demerged Company”/ “the Company”/ “KMSM”) and KM Spirits and Allied Industries Limited (“Resulting Company”/ “KMSAIL”) and their respective shareholders and creditors ("Scheme of Arrangement") convened pursuant to the directions of the Hon'ble National Company Law Tribunal, Allahabad Bench (“Hon’ble Tribunal”) vide its order dated March 24, 2026</in-capmkt:BriefDetailsOfResolution></xbrli:xbrl>