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<!--REG30PARAB V1.0 (01-06-2026)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2026-04-30/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Regulation_30_Para_B_Of_Part_A_Of_Schedule_III/2026-04-30/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/2026-04-30/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-2026-04-30.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">543711</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-11-05</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_CapacityAddition"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">543711</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-11-05</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIIIAxis">in-capmkt:CapacityAdditionMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:unit id="INR"><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unit><in-capmkt:NSESymbol contextRef="MainI">SULA</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">SULA VINEYARDS LTD</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">543711</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE142Q01026</in-capmkt:ISIN><in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">Capacity addition/Product launch (Sub-para 3-Para B)</in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="I_CapacityAddition">Capacity addition</in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">New</in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting contextRef="MainI">true</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting><in-capmkt:DateOfBoardMeeting contextRef="MainI">2026-11-05</in-capmkt:DateOfBoardMeeting><in-capmkt:StartTimeOfTheMeeting contextRef="MainI">15:10:00</in-capmkt:StartTimeOfTheMeeting><in-capmkt:EndTimeOfTheMeeting contextRef="MainI">15:55:00</in-capmkt:EndTimeOfTheMeeting><in-capmkt:DateOfReport contextRef="MainI">2026-11-05</in-capmkt:DateOfReport><in-capmkt:ExistingCapacityOfProjectOrPlant contextRef="MainI">The proposed Hotel at York Winery (“York”), as held by Artisan Spirits Private Limited (“ASPL”), Wholly Owned Subsidiary of the Company and situated at Gat No.15/2, Village Gangavarhe, Nashik (Rural), Nashik, Maharashtra - 422222 will be constructed/developed as a new Hospitality facility by ASPL. The said York location is currently being utilised by ASPL for winery operations, including wine manufacturing and production which will now be utilized for the development and operation of the proposed Hotel at York.</in-capmkt:ExistingCapacityOfProjectOrPlant><in-capmkt:ExistingCapacityUtilizationByProjectOrPlant contextRef="MainI">The proposed Hotel at York Winery (“York”), as held by Artisan Spirits Private Limited (“ASPL”), Wholly Owned Subsidiary of the Company and situated at Gat No.15/2, Village Gangavarhe, Nashik (Rural), Nashik, Maharashtra - 422222 will be constructed/developed as a new Hospitality facility by ASPL. The said York location is currently being utilised by ASPL for winery operations, including wine manufacturing and production which will now be utilized for the development and operation of the proposed Hotel at York.</in-capmkt:ExistingCapacityUtilizationByProjectOrPlant><in-capmkt:ProposedCapacityAdditionInProjectOrPlant contextRef="MainI">30 - 40 rooms. Taking into consideration the Hospitality facilities run by the Company and its subsidiaries at Nashik, Maharashtra, the proposed hotel at York is expected to increase the existing room capacity of 155 keys, as on date, by approx. 20%.</in-capmkt:ProposedCapacityAdditionInProjectOrPlant><in-capmkt:PeriodWithinWhichCapacityIsToBeAdded contextRef="MainI">March 2028</in-capmkt:PeriodWithinWhichCapacityIsToBeAdded><in-capmkt:InvestmentRequiredForProposedCapacityAddition contextRef="MainI" unitRef="INR" decimals="0">250000000</in-capmkt:InvestmentRequiredForProposedCapacityAddition><in-capmkt:ModeOfFinancingForCapacityAddition contextRef="MainI">Combination of Internal Accruals &amp; Debts</in-capmkt:ModeOfFinancingForCapacityAddition><in-capmkt:RationaleForCapacityAddition contextRef="MainI">The proposed capacity addition is part of the Company's continued focus on strengthening and expanding its wine tourism and hospitality business. The Company's existing hospitality portfolio comprises of three resorts in Nashik, namely (a) The Source at Sula, (b) Beyond by Sula, and (c) The Haven by Sula, which is operated by the Company and its Wholly-owned subsidiaries, i.e. ASPL and N D Wines Private Limited. The proposed Hotel at York, strategically located alongside The Haven by Sula and to be developed by ASPL, will be the fourth hospitality property in the Company's portfolio, further augmenting its accommodation capacity and strengthening its presence in the wine tourism segment.</in-capmkt:RationaleForCapacityAddition></xbrli:xbrl>
