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<!--REG30 V1.0 (16-10-2025)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2025-08-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/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-2025-08-31.xsd"/><xbrli:context id="OneI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">504918</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-14</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">504918</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-08-14</xbrli:startDate><xbrli:endDate>2026-08-14</xbrli:endDate></xbrli:period></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:ScripCode contextRef="OneI">504918</in-capmkt:ScripCode><in-capmkt:NameOfTheCompany contextRef="OneI">Sandur Manganese &amp; 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Iron Ores Limited</in-capmkt:NameOfHoldingCompany><in-capmkt:RelationshipOfHoldingCompanyWithTheListedEntity contextRef="OneD">Subsidiary</in-capmkt:RelationshipOfHoldingCompanyWithTheListedEntity><in-capmkt:NameOfTheIncorporatedEntity contextRef="OneI">Royal Sandur Academy Private Limited</in-capmkt:NameOfTheIncorporatedEntity><in-capmkt:IndustryToWhichTheEntityBeingIncorporatedBelongs contextRef="OneI">Academy (education, sports, infrastructure, training/ coaching and connected businesses)</in-capmkt:IndustryToWhichTheEntityBeingIncorporatedBelongs><in-capmkt:BriefBackgroundAboutTheEntityIncorporatedInTermsOfProductsOrLineOfBusiness contextRef="OneI">Royal Sandur Academy Private Limited is incorporated to carry on the business of academy including but not limited to establishment and management of coaching centres, sports academies, skill development and vocational training institutes, educational infrastructure, digital learning platforms, residential facilities and allied consultancy and support services.</in-capmkt:BriefBackgroundAboutTheEntityIncorporatedInTermsOfProductsOrLineOfBusiness><in-capmkt:WhetherAnyGovernmentalOrRegulatoryApprovalsRequiredForTheIncorporation contextRef="OneD">Yes</in-capmkt:WhetherAnyGovernmentalOrRegulatoryApprovalsRequiredForTheIncorporation><in-capmkt:ProvideBriefDetailsOfAnyGovernmentalOrRegulatoryApprovalsForTheIncorporation contextRef="OneI">Approval received from Ministry of Corporate Affairs, Government of India vide Certificate of Incorporation dated 14 August 2026.</in-capmkt:ProvideBriefDetailsOfAnyGovernmentalOrRegulatoryApprovalsForTheIncorporation><in-capmkt:NatureOfConsiderationForIncorporation contextRef="OneD">Cash</in-capmkt:NatureOfConsiderationForIncorporation><in-capmkt:AmountOfCashConsiderationForIncorporation contextRef="OneD" unitRef="INR" decimals="-7">10000000</in-capmkt:AmountOfCashConsiderationForIncorporation><in-capmkt:DetailsOfConsiderationForIncorporation contextRef="OneI">10,00,000 equity shares of Rs.10/- each aggregating to Rs.1,00,00,000/-.</in-capmkt:DetailsOfConsiderationForIncorporation><in-capmkt:CostOfSubscriptionOrThePriceAtWhichTheSharesAreSubscribed contextRef="OneD">Cost/Price</in-capmkt:CostOfSubscriptionOrThePriceAtWhichTheSharesAreSubscribed><in-capmkt:DetailsOfCostOfSubscriptionOrThePriceAtWhichTheSharesAreSubscribed contextRef="OneI">Rs.1,00,00,000/-</in-capmkt:DetailsOfCostOfSubscriptionOrThePriceAtWhichTheSharesAreSubscribed><in-capmkt:PercentageOfShareholdingOrControl contextRef="OneI" unitRef="pure" decimals="INF">1</in-capmkt:PercentageOfShareholdingOrControl><in-capmkt:DateOfIncorporation contextRef="OneI">2026-08-14</in-capmkt:DateOfIncorporation><in-capmkt:CountryInWhichTheEntityIsIncorporated contextRef="OneI">India</in-capmkt:CountryInWhichTheEntityIsIncorporated><in-capmkt:AnyOtherBriefSignificantInformationForIncorporationEvent contextRef="OneI">Royal Sandur Academy Private Limited is a Wholly Owned Subsidiary of The Sandur Manganese &amp; Iron Ores Limited</in-capmkt:AnyOtherBriefSignificantInformationForIncorporationEvent></xbrli:xbrl>
