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<xbrli:xbrl xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2023-06-30/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/Closure_Of_Trading_Window/2023-06-30/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Closure_Of_Trading_Window/2023-06-30/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/2023-06-30/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.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2023-06-30.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">MSTCLTD</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-03-24</xbrli:instant></xbrli:period></xbrli:context><in-capmkt:NameOfTheCompany contextRef="MainI">MSTC Limited</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="MainI">MSTCLTD</in-capmkt:NSESymbol><in-capmkt:ISIN contextRef="MainI">INE255X01014</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncementForClosureOfTradingWindow contextRef="MainI">New</in-capmkt:TypeOfAnnouncementForClosureOfTradingWindow><in-capmkt:TypeOfEventForClosureOfTradingWindow contextRef="MainI">Closure of Trading Window</in-capmkt:TypeOfEventForClosureOfTradingWindow><in-capmkt:DateOfStartOfTradingWindowClosure contextRef="MainI">2026-04-01</in-capmkt:DateOfStartOfTradingWindowClosure><in-capmkt:BriefDetailsForTradingWindowClosureEndDate contextRef="MainI">From 1st April, 2026 upto forty eight hours after the announcement of the Audited Financial Results of the Company for the quarter and year ended 31st March, 2026 to the Stock Exchanges.</in-capmkt:BriefDetailsForTradingWindowClosureEndDate><in-capmkt:PurposeOfTheClosureOfTradingWindow contextRef="MainI">Announcement of the Audited Financial Results of the Company for the Quarter and year ended  31st March, 2026.</in-capmkt:PurposeOfTheClosureOfTradingWindow><in-capmkt:DateOfReport contextRef="MainI">2026-03-24</in-capmkt:DateOfReport></xbrli:xbrl>
