Actually, somewhat lower than standard velocity rounds (assuming ~174gr projectiles) often strike higher at 100m. But 9-10" (~23cm) high is a bit much! You would have to know what rounds he was shooting- 123gr,150gr,174gr,180gr and at what velocity.
The sights will go slightly below "2" (200yds) but if it was set at "2", then you would expect impacts about 3" high at 100yds (about the same at 100m).
Are you shooting the ammo which will be your "standard"? If not, then a re-zero at this point may be counterproductive.
Actually, it's easy math to sort out the blade height change at this point- Except I don't have an SMLE at hand right now (at work), and I don't remember the sight radius! If you can measure from the rear of the front sight to the rear face of the rear sight, all the other info is known. Metric on English- whatever units are easiest- but the sights are marked in inches (we'll guess yours is a standard height- marked "0"), so that's gonna be the most useful for our purposes.