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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/ScripCode">524051</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-11-06</xbrli:startDate><xbrli:endDate>2026-11-06</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">524051</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-11-06</xbrli:instant></xbrli:period></xbrli:context><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:NameOfTheCompany contextRef="MainI">Polyplex Corporation Limited</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="MainI">POLYPLEX</in-capmkt:NSESymbol><in-capmkt:TypeOfAnnouncement contextRef="MainI">New</in-capmkt:TypeOfAnnouncement><in-capmkt:TypeOfAgreement contextRef="MainI">Others</in-capmkt:TypeOfAgreement><in-capmkt:DetailsOfOtherTypeOfAnnouncement contextRef="MainI">Letter Agreement</in-capmkt:DetailsOfOtherTypeOfAnnouncement><in-capmkt:StageOfAgreement contextRef="MainI">Revision, Rescission, Amendment or Alteration of agreement</in-capmkt:StageOfAgreement><in-capmkt:AgreementsEnteredIntoBy contextRef="MainD">Promoters of the listed entity,Shareholders of the listed entity</in-capmkt:AgreementsEnteredIntoBy><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting contextRef="MainD">true</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfOccurrenceOfEvent contextRef="MainI">2026-11-06</in-capmkt:DateOfOccurrenceOfEvent><in-capmkt:TimeOfOccurrenceOfEvent contextRef="MainD">17:40:00</in-capmkt:TimeOfOccurrenceOfEvent><in-capmkt:WhetherTheListedEntityIsPartyToTheAgreement contextRef="MainD">true</in-capmkt:WhetherTheListedEntityIsPartyToTheAgreement><in-capmkt:DateOfReport contextRef="MainI">2026-11-06</in-capmkt:DateOfReport><in-capmkt:DateOfInitialDisclosureOfTheExecutionOfTheAgreementToTheStockExchangeForRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainI">2023-10-03</in-capmkt:DateOfInitialDisclosureOfTheExecutionOfTheAgreementToTheStockExchangeForRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:BriefDetailsOfRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainD">The Parties are actively negotiating a formal amendment agreement to record such amendments. The Parties shall on or before 15 January 2027, negotiate in good faith, take all steps necessary to finalise the amendment agreement and once finalised execute it. On execution, the amendment agreement shall form an integral part of, and be read together with, the CPA and the SHA, as applicable.</in-capmkt:BriefDetailsOfRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:NumberOfPartiesRelatingToAgreementAfterRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainI" unitRef="pure" decimals="0">8</in-capmkt:NumberOfPartiesRelatingToAgreementAfterRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:NamesOfPartiesWithWhomTheAgreementIsEnteredAfterRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainD">As per announcement submitted to the Stock Exchange</in-capmkt:NamesOfPartiesWithWhomTheAgreementIsEnteredAfterRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:NatureOfTheAgreementForRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainD">As per announcement submitted to the Stock Exchange</in-capmkt:NatureOfTheAgreementForRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:DateOfExecutionOfTheRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainI">2026-11-06</in-capmkt:DateOfExecutionOfTheRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:ReasonOfRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainD">The Parties are actively negotiating a formal amendment agreement to record such amendments. The Parties shall on or before 15 January 2027, negotiate in good faith, take all steps necessary to finalise the amendment agreement and once finalised execute it. On execution, the amendment agreement shall form an integral part of, and be read together with, the CPA and the SHA, as applicable.</in-capmkt:ReasonOfRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:DetailsOfImpactOfTheRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainD">None at present. The Letter Agreement only records the parties’ in-principle agreement to revisit the timelines under the Transaction Documents and does not impact the management or control of the listed entity.</in-capmkt:DetailsOfImpactOfTheRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:OtherDisclosureWithRespectToComplianceOfAnySEBIActOrRegulationOrCircularOrProvisionForRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainD">We refer to our disclosure dated October 03, 2023, in relation to the call and put option agreement dated October 03, 2023 (the “CPA”) and the shareholders’ agreement dated October 03, 2023 (the “SHA”) executed by the AGP HoldCo Limited (“Investor”), the Company, and certain member of the Promoter Group of the Company (“Promoter Group”) (together, the “Transaction Documents”). &lt;BR&gt; 
 &lt;BR&gt; 
We wish to inform you that the Company, Promoter Group and the Investor have executed a letter agreement dated November 06, 2026 (the “Letter Agreement”) inter alia recording the parties’ in-principle agreement to revisit the timelines and manner of the sale and purchase of shares, under the CPA. The Parties are actively negotiating a formal amendment agreement to record such amendments. The Parties shall on or before January 15, 2027, negotiate in good faith, take all steps necessary to finalise the amendment agreement and once finalised, execute it. On execution, the amendment agreement shall form an integral part of, and be read together with, the CPA and the SHA, as applicable. &lt;BR&gt; 
 &lt;BR&gt; 
Pending execution of the amendment agreement, the CPA and the SHA shall continue in full force and effect, and the rights and obligations of the Parties thereunder shall not be affected by the time taken to finalise and execute the amendment agreement.</in-capmkt:OtherDisclosureWithRespectToComplianceOfAnySEBIActOrRegulationOrCircularOrProvisionForRevisionOrRescissionOrAmendmentOrAlterationOfAgreement></xbrli:xbrl>
