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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">524348</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-07-18</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_ActionsTaken1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">524348</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-07-18</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">524348</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-07-18</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember 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id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:NSESymbol contextRef="MainI">AARTIDRUGS</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">AARTI DRUGS LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">524348</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE767A01016</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">2026-07-18</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainI">10:45:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:DateOfReport contextRef="MainI">2026-07-18</in-capmkt:DateOfReport><in-capmkt:TypeOfActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">Closure of operations</in-capmkt:TypeOfActionsTakenOrOrdersPassed><in-capmkt:ActionsTakenOrOrdersPassedBy contextRef="I_ActionsTaken1">Regulatory Authority</in-capmkt:ActionsTakenOrOrdersPassedBy><in-capmkt:NameOfAuthorityFromWhomActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">Gujarat Pollution Control Board (GPCB)</in-capmkt:NameOfAuthorityFromWhomActionsTakenOrOrdersPassed><in-capmkt:NumberOfPersonsAgainstWhomActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1" unitRef="pure" decimals="0">1</in-capmkt:NumberOfPersonsAgainstWhomActionsTakenOrOrdersPassed><in-capmkt:ActionsTakenOrOrdersPassedAgainst contextRef="I_ActionsTaken1_PersonsAgainstWhomActionsTaken1">Listed Entity (Self)</in-capmkt:ActionsTakenOrOrdersPassedAgainst><in-capmkt:NameOfPersonAgainstWhomActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1_PersonsAgainstWhomActionsTaken1">AARTI DRUGS LIMITED</in-capmkt:NameOfPersonAgainstWhomActionsTakenOrOrdersPassed><in-capmkt:TypeOfCommunicationReceivedForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">Closure Direction [u/s 33A of  Water (Prevention and Control of Pollution) Act, 1974]</in-capmkt:TypeOfCommunicationReceivedForActionsTakenOrOrdersPassed><in-capmkt:NatureAndDetailsOfTheActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">Company has received a Closure Directions letter issued by the Gujarat Pollution Control Board (GPCB) under Section 33A of the Water (Prevention and Control of Pollution) Act, 1974. The directive mandates the closure of Amines manufacturing operations at the Company’s plant located at Plot No. DP-94 to DP-96, Saykha Industrial Estate, Dist. Bharuch, Gujarat, effective 15 days from the date of issuance of the letter, alongside other related directions.</in-capmkt:NatureAndDetailsOfTheActionsTakenOrOrdersPassed><in-capmkt:DateOfReceiptOfCommunicationReceivedForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">2026-07-18</in-capmkt:DateOfReceiptOfCommunicationReceivedForActionsTakenOrOrdersPassed><in-capmkt:BriefDetailsOfTheMaterialContentsOfTheCommunicationReceivedForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">During an inspection conducted by GPCB on June 20, 2026, certain non-compliances of Water Act and Consolidated Consents and Authorization (CCA) conditions were observed.

Considering the above, the Company has been directed by GPCB to close manufacturing activity at Plot No. DP-94 to DP-96, Saykha Industrial Estate, Dist. Bharuch, Gujarat, with effect from the 15th day from the date of issuance of the closure directions.   
</in-capmkt:BriefDetailsOfTheMaterialContentsOfTheCommunicationReceivedForActionsTakenOrOrdersPassed><in-capmkt:PeriodForWhichCommunicationWouldBeApplicableForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">N.A.</in-capmkt:PeriodForWhichCommunicationWouldBeApplicableForActionsTakenOrOrdersPassed><in-capmkt:ExpectedImpactOfActionsTakenOnFinancialAndOperationalOrOtherActivitiesOfTheListedEntity contextRef="I_ActionsTaken1">The closure of operation will be effective from 15th days of issuance of the closure direction letter by GPCB so there is no impact on financial, operational or other activities of the Company as on date. 

Meanwhile, the Company is taking appropriate corrective measures to address the observations made by the Gujarat Pollution Control Board (GPCB) and is in the process of submitting the requisite response to obtain revocation of the closure directions issued by GPCB.

The Company will update the Stock exchanges of material development, if any, in the aforesaid matter in future.

The manufacturing activities at all other manufacturing units of the Company will remain operational.
</in-capmkt:ExpectedImpactOfActionsTakenOnFinancialAndOperationalOrOtherActivitiesOfTheListedEntity><in-capmkt:DetailsOfAnyAberrationsOrNonCompliancesOrViolationsOrContraventionsIdentifiedByTheAuthorityInTheCommunicationForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">During an inspection conducted by GPCB on June 20, 2026, certain non-compliances of Water Act and Consolidated Consents and Authorization (CCA) conditions were observed.</in-capmkt:DetailsOfAnyAberrationsOrNonCompliancesOrViolationsOrContraventionsIdentifiedByTheAuthorityInTheCommunicationForActionsTakenOrOrdersPassed><in-capmkt:DetailsOfAnyPenaltyOrRestrictionOrSanctionImposedPursuantToTheCommunicationForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">Company has received a Closure Directions letter issued by the Gujarat Pollution Control Board (GPCB) under Section 33A of the Water (Prevention and Control of Pollution) Act, 1974. The directive mandates the closure of Amines manufacturing operations at the Company’s plant located at Plot No. DP-94 to DP-96, Saykha Industrial Estate, Dist. Bharuch, Gujarat, effective 15 days from the date of issuance of the letter, alongside other related directions.</in-capmkt:DetailsOfAnyPenaltyOrRestrictionOrSanctionImposedPursuantToTheCommunicationForActionsTakenOrOrdersPassed><in-capmkt:DetailsOfRegulatoryActionsOrSanctions contextRef="I_ActionsTaken1">Company has received a Closure Directions letter issued by the Gujarat Pollution Control Board (GPCB) under Section 33A of the Water (Prevention and Control of Pollution) Act, 1974. The directive mandates the closure of Amines manufacturing operations at the Company’s plant located at Plot No. DP-94 to DP-96, Saykha Industrial Estate, Dist. Bharuch, Gujarat, effective 15 days from the date of issuance of the letter, alongside other related directions.</in-capmkt:DetailsOfRegulatoryActionsOrSanctions><in-capmkt:ActionsTakenByListedCompanyWithRespectToTheCommunicationForActionsTakenOrOrdersPassed contextRef="I_ActionsTaken1">The Company is taking appropriate corrective measures to address the observations made by the Gujarat Pollution Control Board (GPCB) and is in the process of submitting the requisite response to obtain revocation of the closure directions issued by GPCB.</in-capmkt:ActionsTakenByListedCompanyWithRespectToTheCommunicationForActionsTakenOrOrdersPassed><in-capmkt:NameOfTheSignatory contextRef="I_Signatories1">Rushikesh Deole</in-capmkt:NameOfTheSignatory><in-capmkt:DesignationOfTheSignatory contextRef="I_Signatories1">Company Secretary and Compliance Officer</in-capmkt:DesignationOfTheSignatory><in-capmkt:DateOfOfTheSignatory contextRef="I_Signatories1">2026-07-18</in-capmkt:DateOfOfTheSignatory><in-capmkt:PlaceOfOfTheSignatory contextRef="I_Signatories1">Mumbai</in-capmkt:PlaceOfOfTheSignatory></xbrli:xbrl>
