<?xml version="1.0" encoding="UTF-8" standalone="no"?><xbrli:xbrl xmlns:xbrli="http://www.xbrl.org/2003/instance" 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:in-capmkt-type="https://www.sebi.gov.in/xbrl/2024-04-30/in-capmkt-types" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xl="http://www.xbrl.org/2003/XLink" xmlns:xlink="http://www.w3.org/1999/xlink"><link:schemaRef xlink:href="in-capmkt-ent-2024-04-30.xsd" xlink:type="simple"/><xbrli:context id="MainD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">SHRIPISTON</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-04-03</xbrli:startDate><xbrli:endDate>2026-04-03</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">SHRIPISTON</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-04-03</xbrli:instant></xbrli:period></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">SHRIPISTON</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">Shriram Pistons &amp; Rings Limited</in-capmkt:NameOfTheCompany><in-capmkt:TypeOfAnnouncement contextRef="MainI">New</in-capmkt:TypeOfAnnouncement><in-capmkt:TypeOfAgreement contextRef="MainI">Others</in-capmkt:TypeOfAgreement><in-capmkt:DetailsOfOtherTypeOfAnnouncement contextRef="MainI">License Agreement</in-capmkt:DetailsOfOtherTypeOfAnnouncement><in-capmkt:StageOfAgreement contextRef="MainI">Others</in-capmkt:StageOfAgreement><in-capmkt:DetailsOfOtherStageOfAgreement contextRef="MainI">Organizational restructuring by our technical collaborator, Kolbenschmidt Pistons Germany GmbH, the existing Licence Agreement(s) with the Company have been transferred to Kolbenschmidt Pistons Management GmbH by way of assignment/assumption of contract.</in-capmkt:DetailsOfOtherStageOfAgreement><in-capmkt:AgreementsEnteredIntoBy contextRef="MainD">Listed Entity</in-capmkt:AgreementsEnteredIntoBy><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting contextRef="MainD">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfOccurrenceOfEvent contextRef="MainI">2026-04-03</in-capmkt:DateOfOccurrenceOfEvent><in-capmkt:TimeOfOccurrenceOfEvent contextRef="MainD">17:00:00</in-capmkt:TimeOfOccurrenceOfEvent><in-capmkt:WhetherTheListedEntityIsPartyToTheAgreement contextRef="MainD">true</in-capmkt:WhetherTheListedEntityIsPartyToTheAgreement><in-capmkt:DateOfReport contextRef="MainI">2026-04-03</in-capmkt:DateOfReport><in-capmkt:DetailsOfOtherStageOfTheAgreement contextRef="MainI">Licence agreement for the use of know how, patents, and trademarks to manufacture and sell pistons for internal combustion engines of certain specifications</in-capmkt:DetailsOfOtherStageOfTheAgreement><in-capmkt:DateOfInitialDisclosureOfTheExecutionOfTheAgreementToTheStockExchangeForOtherStageOfTheAgreement contextRef="MainI">2023-07-28</in-capmkt:DateOfInitialDisclosureOfTheExecutionOfTheAgreementToTheStockExchangeForOtherStageOfTheAgreement><in-capmkt:DetailsOfReasonAndImpactForOtherStageOfTheAgreement contextRef="MainI">The License agreement is in place over six decades and is an ongoing collaboration to service the automotive industry with the latest technology products thereby meeting the prevalent emission norms and also provide cutting edge technology products which are at par with the latest technology available globally.

The objective of the agreement is to acquire the latest manufacturing technology and know how, which will enable the Company to strengthen its presence in the domestic market and secure new business opportunities with access to advanced technology.</in-capmkt:DetailsOfReasonAndImpactForOtherStageOfTheAgreement><in-capmkt:OtherInformationForOtherStageOfTheAgreement contextRef="MainI">Royalty will be payable to KS in accordance with the provisions of the agreement. &lt;BR&gt; 
The Company manufactures its products in India and will continue to do so, catering to both domestic customers and export markets.</in-capmkt:OtherInformationForOtherStageOfTheAgreement></xbrli:xbrl>