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<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2026-03-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Action_Initiation_Or_Action_Taken_Or_Order_Passed/2026-03-31/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/2026-03-31/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.w3.org/1999/xlink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2026-03-31.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544222</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-15</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_ActionsTaken1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544222</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-15</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ActionsTakenOrOrdersPassedAxis"><in-capmkt:ActionsTakenOrOrdersPassedDomain>ActionsTakenOrOrdersPassedDomain1</in-capmkt:ActionsTakenOrOrdersPassedDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_ActionsTaken1_PersonsAgainstWhomActionsTaken1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544222</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-15</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember 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id="INR"><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unit><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:NSESymbol contextRef="MainI">AKUMS</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">Akums Drugs and Pharmaceuticals Limited</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">544222</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE09XN01023</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncement contextRef="MainI">New</in-capmkt:TypeOfAnnouncement><in-capmkt:TypeOfEvent contextRef="MainI">Action(s) taken or orders passed (sub-para 20)</in-capmkt:TypeOfEvent><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting contextRef="MainI">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting><in-capmkt:DateOfOccurrenceOfEventOrInformation contextRef="MainI">2026-10-15</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainI">11:05:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:DateOfReport contextRef="MainI">2026-10-15</in-capmkt:DateOfReport><in-capmkt:TypeOfActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">Imposition of fine or penalty</in-capmkt:TypeOfActionsTakenOrOrdersPassed><in-capmkt:ActionsTakenOrOrdersPassedBy contextRef="I_ActionsTaken1">Regulatory Authority</in-capmkt:ActionsTakenOrOrdersPassedBy><in-capmkt:NameOfAuthorityFromWhomActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">National Pharmaceutical Pricing Authority</in-capmkt:NameOfAuthorityFromWhomActionsTakenOrOrdersPassed><in-capmkt:NumberOfPersonsAgainstWhomActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1" unitRef="pure" decimals="0">3</in-capmkt:NumberOfPersonsAgainstWhomActionsTakenOrOrdersPassed><in-capmkt:ActionsTakenOrOrdersPassedAgainst contextRef="I_ActionsTaken1_PersonsAgainstWhomActionsTaken1">Subsidary</in-capmkt:ActionsTakenOrOrdersPassedAgainst><in-capmkt:NameOfPersonAgainstWhomActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1_PersonsAgainstWhomActionsTaken1">Pure and Cure Healthcare Private Limited</in-capmkt:NameOfPersonAgainstWhomActionsTakenOrOrdersPassed><in-capmkt:ActionsTakenOrOrdersPassedAgainst contextRef="I_ActionsTaken1_PersonsAgainstWhomActionsTaken2">Other</in-capmkt:ActionsTakenOrOrdersPassedAgainst><in-capmkt:NameOfPersonAgainstWhomActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1_PersonsAgainstWhomActionsTaken2">Hetero Healthcare Limited</in-capmkt:NameOfPersonAgainstWhomActionsTakenOrOrdersPassed><in-capmkt:DesignationOfPersonAgainstWhomActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1_PersonsAgainstWhomActionsTaken2">NA</in-capmkt:DesignationOfPersonAgainstWhomActionsTakenOrOrdersPassed><in-capmkt:ActionsTakenOrOrdersPassedAgainst contextRef="I_ActionsTaken1_PersonsAgainstWhomActionsTaken3">Other</in-capmkt:ActionsTakenOrOrdersPassedAgainst><in-capmkt:NameOfPersonAgainstWhomActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1_PersonsAgainstWhomActionsTaken3">Abaris Healthcare Private Limited</in-capmkt:NameOfPersonAgainstWhomActionsTakenOrOrdersPassed><in-capmkt:DesignationOfPersonAgainstWhomActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1_PersonsAgainstWhomActionsTaken3">NA</in-capmkt:DesignationOfPersonAgainstWhomActionsTakenOrOrdersPassed><in-capmkt:TypeOfCommunicationReceivedForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">Demand Notice dated October 13, 2026 received via email on 15-10-2026 at 11.05 A.M. (IST)</in-capmkt:TypeOfCommunicationReceivedForActionsTakenOrOrdersPassed><in-capmkt:NatureAndDetailsOfTheActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">National Pharmaceutical Pricing Authority has issued a Demand Notice of Rs.52,74,68,193/- dated October 13, 2026 against the below mentioned Parties:

1.	Hetero Healthcare Limited/ Marketer
2.	 Pure and Cure Healthcare Private Limited, a wholly-owned subsidiary of the Company / Manufacturer
3.	Abaris Healthcare Private Limited

However, as per the agreement executed between the manufacturer and marketer, the prime responsibility to respond on such demand notice is of Hetero Healthcare Limited, being the marketer of the product.</in-capmkt:NatureAndDetailsOfTheActionsTakenOrOrdersPassed><in-capmkt:DateOfReceiptOfCommunicationReceivedForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">2026-10-15</in-capmkt:DateOfReceiptOfCommunicationReceivedForActionsTakenOrOrdersPassed><in-capmkt:BriefDetailsOfTheMaterialContentsOfTheCommunicationReceivedForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">National Pharmaceutical Pricing Authority has issued the demand notice for manufacturing/marketing of new drug/formulation “Lanol 1000 mg injection” 100ml, -to the below mentioned parties: 
1.	Hetero Healthcare Limited/Marketer
2.	Pure and Cure Healthcare Private Limited, a wholly-owned subsidiary of the Company/Manufacturer
3.	Abaris Healthcare Private Limited

without obtaining prior price approval from Government of India as specified under Section 15 of The Drugs (Prices Control) Order, 2013

As per the agreement executed between the manufacturer and marketer, the prime responsibility to comply with the NPPA Regulations lies on Hetero Healthcare Limited, being the marketer of the product.</in-capmkt:BriefDetailsOfTheMaterialContentsOfTheCommunicationReceivedForActionsTakenOrOrdersPassed><in-capmkt:PeriodForWhichCommunicationWouldBeApplicableForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">For overcharging amount and penalty the time period shall be from December 2017 to August 2024 and for interest the time period shall be calculated till October 30, 2026</in-capmkt:PeriodForWhichCommunicationWouldBeApplicableForActionsTakenOrOrdersPassed><in-capmkt:ExpectedImpactOfActionsTakenOnFinancialAndOperationalOrOtherActivitiesOfTheListedEntity contextRef="I_ActionsTaken1">Demand Notice is of Rs. 52,74,68,193/- including overcharging amount of Rs. 18,94,80,649/- for the batches manufactured during December 2017 to august 2024 and penalty amount of Rs. 18,94,80,649/- being 100% of the overcharged amount along with interest amount of Rs. 14,85,06,895/- up to October 30, 2026.

The prime responsibility to respond on the notice lies with Hetero Healthcare Limited,  Client of Pure and Cure Healthcare Private Limited 

As per the agreement executed between the manufacturer and marketer, the prime responsibility to bear the cost of any non-compliances of NPPA provisions lies on Hetero Healthcare Limited, being the marketer of the product.</in-capmkt:ExpectedImpactOfActionsTakenOnFinancialAndOperationalOrOtherActivitiesOfTheListedEntity><in-capmkt:DetailsOfAnyAberrationsOrNonCompliancesOrViolationsOrContraventionsIdentifiedByTheAuthorityInTheCommunicationForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">Notice has been issued for fixation of price of the product without obtaining prior price approval from Government of India as specified under Section 15 of The Drugs (Prices Control) Order, 2013</in-capmkt:DetailsOfAnyAberrationsOrNonCompliancesOrViolationsOrContraventionsIdentifiedByTheAuthorityInTheCommunicationForActionsTakenOrOrdersPassed><in-capmkt:AmountOfFineOrPenalty contextRef="I_ActionsTaken1" unitRef="INR" decimals="0">189480649</in-capmkt:AmountOfFineOrPenalty><in-capmkt:DetailsOfAnyPenaltyOrRestrictionOrSanctionImposedPursuantToTheCommunicationForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">Demand Notice is of Rs. 52,74,68,193/- including overcharging amount of Rs. 18,94,80,649/- for the batches manufactured during December 2017 to August 2024 and penalty amount of Rs. 18,94,80,649/- being 100% of the overcharged amount along with interest amount of Rs. 14,85,06,895/- up to October 30, 2026

However, the Demand Notice has no financial impact or liability on the Company and its subsidiary. As the marketer of the product, Hetero Healthcare Limited being the person responsible for compliance of NPPA provisions</in-capmkt:DetailsOfAnyPenaltyOrRestrictionOrSanctionImposedPursuantToTheCommunicationForActionsTakenOrOrdersPassed><in-capmkt:DetailsOfRegulatoryActionsOrSanctions contextRef="I_ActionsTaken1">No action or oder is passed against Pure and Cure Healthcare Private Limited for suspension, settlement of proceedings, debarment, disqualification, closure of operations, sanctions imposed, warning or caution</in-capmkt:DetailsOfRegulatoryActionsOrSanctions><in-capmkt:ActionsTakenByListedCompanyWithRespectToTheCommunicationForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">NA</in-capmkt:ActionsTakenByListedCompanyWithRespectToTheCommunicationForActionsTakenOrOrdersPassed><in-capmkt:AnyOtherRelevantInformationForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">The subsidiary of the Company has executed an agreement with the marketing Company containg a clause that the marketing company shall be solely held liable for violation of DPCO provisions; including any penalty, fine, interest and other amount in this regard.

In view of the said agreement, no finanical liablity or impact is expected on the Company/ subsidiary.
</in-capmkt:AnyOtherRelevantInformationForActionsTakenOrOrdersPassed><in-capmkt:NameOfTheSignatory contextRef="I_Signatories1">Dharamvir Malik</in-capmkt:NameOfTheSignatory><in-capmkt:DesignationOfTheSignatory contextRef="I_Signatories1">Company Secretary and Compliance Officer</in-capmkt:DesignationOfTheSignatory><in-capmkt:DateOfOfTheSignatory contextRef="I_Signatories1">2026-10-15</in-capmkt:DateOfOfTheSignatory><in-capmkt:PlaceOfOfTheSignatory contextRef="I_Signatories1">Delhi</in-capmkt:PlaceOfOfTheSignatory></xbrli:xbrl>
