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<!--ANNAgreement V1.0 (10-04-2026)-->
<xbrli:xbrl xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2024-04-30/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/Announcement_For_Agreements/2024-04-30/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Announcement_For_Agreements/2024-04-30/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/2024-04-30/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-2024-04-30.xsd"/><xbrli:context id="MainD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">COCHINSHIP</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-09-11</xbrli:startDate><xbrli:endDate>2026-09-11</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">COCHINSHIP</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-11</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="D_PartiesOfTheAgreement1"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">COCHINSHIP</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-09-11</xbrli:startDate><xbrli:endDate>2026-09-11</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:PartiesOfTheAgreementAxis"><in-capmkt:PartiesOfTheAgreementDomain>PartiesOfTheAgreementDomain1</in-capmkt:PartiesOfTheAgreementDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_PartiesOfTheAgreement1"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">COCHINSHIP</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-11</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:PartiesOfTheAgreementAxis"><in-capmkt:PartiesOfTheAgreementDomain>PartiesOfTheAgreementDomain1</in-capmkt:PartiesOfTheAgreementDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><xbrli:unit id="shares"><xbrli:measure>xbrli:shares</xbrli:measure></xbrli:unit><xbrli:unit id="INRPerShare"><xbrli:divide><xbrli:unitNumerator><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unitNumerator><xbrli:unitDenominator><xbrli:measure>xbrli:shares</xbrli:measure></xbrli:unitDenominator></xbrli:divide></xbrli:unit><in-capmkt:NSESymbol contextRef="MainI">COCHINSHIP</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">COCHIN SHIPYARD LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:TypeOfAnnouncement contextRef="MainI">New</in-capmkt:TypeOfAnnouncement><in-capmkt:TypeOfAgreement contextRef="MainI">Joint venture agreements</in-capmkt:TypeOfAgreement><in-capmkt:StageOfAgreement contextRef="MainI">Execution of agreement</in-capmkt:StageOfAgreement><in-capmkt:AgreementsEnteredIntoBy contextRef="MainD">Listed Entity</in-capmkt:AgreementsEnteredIntoBy><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting contextRef="MainD">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfOccurrenceOfEvent contextRef="MainI">2026-09-11</in-capmkt:DateOfOccurrenceOfEvent><in-capmkt:TimeOfOccurrenceOfEvent contextRef="MainD">21:00:00</in-capmkt:TimeOfOccurrenceOfEvent><in-capmkt:WhetherTheListedEntityIsPartyToTheAgreement contextRef="MainD">true</in-capmkt:WhetherTheListedEntityIsPartyToTheAgreement><in-capmkt:RemarksForWebsiteDissemination contextRef="MainI">Please refer the disclosure made by the Company to the Stock Exchanges on September 09, 2026, regarding the proposed joint venture with Drydocks World Dubai – FZCO (DDW).</in-capmkt:RemarksForWebsiteDissemination><in-capmkt:DateOfReport contextRef="MainI">2026-09-11</in-capmkt:DateOfReport><in-capmkt:DetailsOfExecutionOfAgreement contextRef="MainI">The Joint Venture Agreement is entered into between Cochin Shipyard Limited (“CSL”) and Drydocks World – Dubai FZCO (“DDW”) for formation of a Joint Venture Company (“JVCo.”) with each party holding 50% in the equity share capital of the JVCo. The joint venture will be formed as a private limited company incorporated under the Companies Act, 2013, with its registered office at Kochi, Ernakulam, Keralam. The JVCo. is not proposed to be listed on any stock exchange. The JVCo. is proposed to be formed for owning, operating and managing the International Ship Repair Facility (ISRF) of CSL at Willingdon Island, Kochi for undertaking dry-docking, maintenance, repair and overhaul of commercial and naval vessels below 130 meters of length and 6,000-tonne weight. Further, the joint venture also envisages capacity augmentation of the ISRF through the addition of ten workstations. As part of the proposal, the ISRF shall be transferred to the JVCo. on a slump sale basis as a going concern for a consideration of not less than Rs. 1,800 Crores. CSL shall receive 50% of the consideration in cash and the remaining 50% in the form of equity shares of the JVCo.</in-capmkt:DetailsOfExecutionOfAgreement><in-capmkt:DateOfBoardOrCommitteeMeetingApprovingTheAgreement contextRef="MainI">2026-09-09</in-capmkt:DateOfBoardOrCommitteeMeetingApprovingTheAgreement><in-capmkt:WhetherProposedOrExecutedAgreementIsInNormalCourseOfBusiness contextRef="MainI">false</in-capmkt:WhetherProposedOrExecutedAgreementIsInNormalCourseOfBusiness><in-capmkt:ReasonForProposedOrExecutedAgreementIsNotInNormalCourseOfBusiness contextRef="MainI">The Joint Venture Agreement envisages forming a Joint Venture Company (“JVCo.”) to which CSL’s ISRF Undertaking shall be transferred on a slump sale basis as a going concern for a consideration of not less than Rs. 1,800 Crores. CSL shall receive 50% of the consideration in cash and the remaining 50% in the form of equity shares of the JVCo.</in-capmkt:ReasonForProposedOrExecutedAgreementIsNotInNormalCourseOfBusiness><in-capmkt:ImpactOfAgreementOnManagementAndControlOfTheListedEntity contextRef="MainI">Nil.</in-capmkt:ImpactOfAgreementOnManagementAndControlOfTheListedEntity><in-capmkt:NumberOfPartiesToTheAgreement contextRef="MainI" unitRef="pure" decimals="0">1</in-capmkt:NumberOfPartiesToTheAgreement><in-capmkt:NameOfPartiesOrCounterPartiesOfTheAgreement contextRef="D_PartiesOfTheAgreement1">Drydocks World – Dubai FZCO</in-capmkt:NameOfPartiesOrCounterPartiesOfTheAgreement><in-capmkt:NatureOfThePartiesOfTheAgreement contextRef="I_PartiesOfTheAgreement1">Party entering into the agreement</in-capmkt:NatureOfThePartiesOfTheAgreement><in-capmkt:DetailsOfShareholdingInTheEntityWithWhomTheAgreementIsExecuted contextRef="I_PartiesOfTheAgreement1">Nil</in-capmkt:DetailsOfShareholdingInTheEntityWithWhomTheAgreementIsExecuted><in-capmkt:NumberOfSharesOfPartyOfTheAgreement contextRef="I_PartiesOfTheAgreement1" unitRef="shares" decimals="INF">0</in-capmkt:NumberOfSharesOfPartyOfTheAgreement><in-capmkt:PercentageOfShareholdingOfPartyOfTheAgreement contextRef="I_PartiesOfTheAgreement1" unitRef="pure" decimals="INF">0</in-capmkt:PercentageOfShareholdingOfPartyOfTheAgreement><in-capmkt:WhetherThePartiesToTheAgreementAreRelatedToPromoterOrPromoterGroupOrAssociateOrHoldingOrSubsidiaryOrGroupCompaniesOrDirectorOrKMPAndItsRelativesInAnyManner contextRef="I_PartiesOfTheAgreement1">false</in-capmkt:WhetherThePartiesToTheAgreementAreRelatedToPromoterOrPromoterGroupOrAssociateOrHoldingOrSubsidiaryOrGroupCompaniesOrDirectorOrKMPAndItsRelativesInAnyManner><in-capmkt:WhetherTheAgreementIsDoneAtArmsLength contextRef="MainI">true</in-capmkt:WhetherTheAgreementIsDoneAtArmsLength><in-capmkt:DateOnWhichAgreementWasEntered contextRef="MainI">2026-09-11</in-capmkt:DateOnWhichAgreementWasEntered><in-capmkt:PurposeOfEnteringIntoTheAgreement contextRef="MainI">The Joint Venture Agreement envisages forming a Joint Venture Company (“JVCo.”) between Cochin Shipyard Limited (“CSL”) and Drydocks World – Dubai FZCO (“DDW”) for owning, operating and managing the International Ship Repair Facility (ISRF) of CSL at Willingdon Island, Kochi for undertaking dry-docking, maintenance, repair and overhaul of commercial and naval vessels below 130 meters of length and 6,000-tonne weight. Further, the joint venture also envisages capacity augmentation of the ISRF through the addition of ten workstations.</in-capmkt:PurposeOfEnteringIntoTheAgreement><in-capmkt:SignificantTermsOfTheAgreementInBriefSpecialRightsLikeRightToAppointDirectorsOrFirstRightToShareSubscriptionInCaseOfIssuanceOfSharesOrRightToRestrictAnyChangeInCapitalStructure contextRef="MainI">Both CSL and DDW will be equal partners in the Joint Venture Company (“JVCo.”) holding 50% each in the share capital of the JVCo. The JVCo. shall be managed by a Board of Directors consisting of five directors, with DDW entitled to nominate three Directors and the Senior Management Personnel like CEO, CFO and COO, as applicable, and CSL entitled to nominate two Directors. All rights as are customary in similar transactions including transfer, restrictions, information rights etc.</in-capmkt:SignificantTermsOfTheAgreementInBriefSpecialRightsLikeRightToAppointDirectorsOrFirstRightToShareSubscriptionInCaseOfIssuanceOfSharesOrRightToRestrictAnyChangeInCapitalStructure><in-capmkt:WhetherThereIsAnyIssuanceOrTransferOfSharesToTheParties contextRef="MainI">true</in-capmkt:WhetherThereIsAnyIssuanceOrTransferOfSharesToTheParties><in-capmkt:ClassOfSharesIssuedOrTransferred contextRef="MainI">Both CSL and DDW will be equal partners in the Joint Venture Company (“JVCo.”) holding 50% each in the share capital of the JVCo. The JVCo. shall issue equity shares to CSL and DDW at face value or such value as may be determined by an Independent Valuer.</in-capmkt:ClassOfSharesIssuedOrTransferred><in-capmkt:IssuePricePerShare contextRef="MainD" unitRef="INRPerShare" decimals="INF">0</in-capmkt:IssuePricePerShare><in-capmkt:DetailsAndQuantificationOfTheRestrictionOrLiabilityImposedUponTheListedEntity contextRef="MainD">Not applicable</in-capmkt:DetailsAndQuantificationOfTheRestrictionOrLiabilityImposedUponTheListedEntity><in-capmkt:OtherDisclosuresRelatedToSuchAgreements contextRef="MainI">The Board of Directors of the JVCo. shall consist of five directors, of which DDW shall be entitled to nominate three Directors and CSL shall be entitled to nominate two Directors. No potential conflict of interest is envisaged to arise out of the proposed transaction.</in-capmkt:OtherDisclosuresRelatedToSuchAgreements><in-capmkt:OtherDisclosureWithRespectToComplianceOfAnySEBIActOrRegulationOrCircularOrProvisionForExecutionOfAgreement contextRef="MainI">Please refer the disclosure made by the Company to the Stock Exchanges on September 09, 2026, regarding the proposed joint venture with Drydocks World Dubai – FZCO (DDW). </in-capmkt:OtherDisclosureWithRespectToComplianceOfAnySEBIActOrRegulationOrCircularOrProvisionForExecutionOfAgreement><in-capmkt:OtherInformationForExecutionAgreements contextRef="MainI">Please refer the disclosure made by the Company to the Stock Exchanges on September 09, 2026, regarding the proposed joint venture with Drydocks World Dubai – FZCO (DDW). </in-capmkt:OtherInformationForExecutionAgreements><in-capmkt:RemarksForWebsiteDisseminationForExecutionAgreements contextRef="MainI">The JVCo. shall issue equity shares to CSL and DDW at face value or such value as may be determined by an Independent Valuer. Since the field “Issue Price per share” accepts only numerical values, “0.00” has been entered for the purpose of the filing. </in-capmkt:RemarksForWebsiteDisseminationForExecutionAgreements></xbrli:xbrl>
