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<xbrli:xbrl xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2023-05-31/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/Prior_Intimation_Of_Board_Meeting/2023-05-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Prior_Intimation_Of_Board_Meeting/2023-05-31/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-type="https://www.sebi.gov.in/xbrl/2023-05-31/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.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2023-05-31.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">IEML</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-15</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="MainD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">IEML</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-10-15</xbrli:startDate><xbrli:endDate>2026-10-15</xbrli:endDate></xbrli:period></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">IEML</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">Indian Emulsifiers Limited</in-capmkt:NameOfTheCompany><in-capmkt:WhetherCompanyIsSME contextRef="MainD">true</in-capmkt:WhetherCompanyIsSME><in-capmkt:ISIN contextRef="MainI">INE0RRU01016</in-capmkt:ISIN><in-capmkt:TypeOfMeeting contextRef="MainI">Committee Meeting</in-capmkt:TypeOfMeeting><in-capmkt:DetailsOfCommitteeMeetingOrOtherTypeOfMeeting contextRef="MainI">RIGHTS ISSUE COMMITTEE MEETING</in-capmkt:DetailsOfCommitteeMeetingOrOtherTypeOfMeeting><in-capmkt:TypeOfIntimation contextRef="MainD">New</in-capmkt:TypeOfIntimation><in-capmkt:DateOfProposedMeeting contextRef="MainD">2026-10-21</in-capmkt:DateOfProposedMeeting><in-capmkt:WhetherTradingWindowIsClosed contextRef="MainD">true</in-capmkt:WhetherTradingWindowIsClosed><in-capmkt:DateOfStartOfTradingWindowClosure contextRef="MainI">2026-10-15</in-capmkt:DateOfStartOfTradingWindowClosure><in-capmkt:DetailsOfDateOfEndOfTradingWindowClosure contextRef="MainI">The trading window for dealing in Equity Shares of the Company will remain closed with effect from today i.e Thursday, October 15, 2026, till 48 hours from the conclusion of the Rights Issue committee meeting.</in-capmkt:DetailsOfDateOfEndOfTradingWindowClosure><in-capmkt:DateOfReport contextRef="MainI">2026-10-15</in-capmkt:DateOfReport><in-capmkt:Agenda1 contextRef="MainD">Fund raising</in-capmkt:Agenda1><in-capmkt:ModeOfRaisingFunds contextRef="MainD">Rights issue</in-capmkt:ModeOfRaisingFunds></xbrli:xbrl>