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<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2025-11-30/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Changes_In_Management/2025-11-30/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/2025-11-30/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.w3.org/1999/xlink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2025-11-30.xsd"/><xbrli:context id="MainD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">500031</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-06-30</xbrli:startDate><xbrli:endDate>2026-06-30</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">500031</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-06-30</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_ChangeInManagement1"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">500031</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-06-30</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ChangeInManagementAxis"><in-capmkt:ChangeInManagementDomain>ChangeInManagementDomain1</in-capmkt:ChangeInManagementDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="D_ChangeInManagement1"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">500031</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-06-30</xbrli:startDate><xbrli:endDate>2026-06-30</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ChangeInManagementAxis"><in-capmkt:ChangeInManagementDomain>ChangeInManagementDomain1</in-capmkt:ChangeInManagementDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:NSESymbol contextRef="MainI">BAJAJELEC</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">BAJAJ ELECTRICALS LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">500031</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE193E01025</in-capmkt:ISIN><in-capmkt:WhetherDisclosureFiledForListedEntity contextRef="MainD">true</in-capmkt:WhetherDisclosureFiledForListedEntity><in-capmkt:RelationshipWithTheListedEntity contextRef="MainD">Listed Entity (self)</in-capmkt:RelationshipWithTheListedEntity><in-capmkt:WhetherEventOrInformationIsAnOutcomeOfBoardMeeting contextRef="MainD">false</in-capmkt:WhetherEventOrInformationIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfOccurrenceOfEventOrInformation contextRef="MainD">2026-06-30</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainD">14:43:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:NumberOfPersonsOrEntitiesForWhomChangeIsBeingReported contextRef="MainI" unitRef="pure" decimals="0">1</in-capmkt:NumberOfPersonsOrEntitiesForWhomChangeIsBeingReported><in-capmkt:DateOfReport contextRef="MainI">2026-06-30</in-capmkt:DateOfReport><in-capmkt:TypeOfChange contextRef="D_ChangeInManagement1">Appointment</in-capmkt:TypeOfChange><in-capmkt:CategoryForChange contextRef="D_ChangeInManagement1">Senior Management Personnel</in-capmkt:CategoryForChange><in-capmkt:DesignationOfDesignatedPerson contextRef="D_ChangeInManagement1">Chief Marketing Officer</in-capmkt:DesignationOfDesignatedPerson><in-capmkt:SalutationOfDesignatedPerson contextRef="D_ChangeInManagement1">Ms.</in-capmkt:SalutationOfDesignatedPerson><in-capmkt:NameOfDesignatedPerson contextRef="I_ChangeInManagement1">Tiny Sengupta</in-capmkt:NameOfDesignatedPerson><in-capmkt:EffectiveDateOfReasonOfChange contextRef="I_ChangeInManagement1">2026-06-30</in-capmkt:EffectiveDateOfReasonOfChange><in-capmkt:TermOfAppointmentInMonths contextRef="D_ChangeInManagement1" unitRef="pure" decimals="INF">0</in-capmkt:TermOfAppointmentInMonths><in-capmkt:BriefProfile contextRef="D_ChangeInManagement1">Ms. Tiny Sengupta is a distinguished marketing &amp; a business leader with over 22 years of experience across healthcare, FMCG, and consumer goods, with a proven track record of driving growth, transformation, and value creation through iconic brands in India and international markets. Throughout her career, she has successfully built, scaled, and revitalized businesses across both multinational and Indian organizations, establishing herself as a category creator, growth architect, and turnaround leader. 

Her professional journey spans leadership roles with globally renowned organizations including Johnson &amp; Johnson, GSK, and Henkel, as well as leading Indian companies such as Marico and Dabur. Most recently, Tiny served as Country Head, Johnson &amp; Johnson Vision Care India, where she led a multiyear business transformation that positioned India among the fastest-growing markets globally. She successfully delivered both topline acceleration and profitability turnaround while strengthening commercial excellence and expanding market reach across the country.

Over the course of her career, Tiny has led businesses ranging from $100 million to $300 million, driving sustainable double-digit growth across premium and mass-market categories. She is widely recognized for combining strategic foresight with executional excellence, leveraging consumer insights, innovation, data-driven decision-making, and scalable business processes to create long-term value.

Beyond business performance, Tiny is deeply passionate about building high-performing teams and developing future leaders. Her teams have been recognized by leading industry forums including Effie’s, APAC Effie’s, APPIES, Stevie, ET Brand Equity, and other global and national platforms for delivering
breakthrough work and sustainable business results.

Tiny holds a Master's degree in Advertising and Communication Management from SIBM Pune and a Bachelor's degree in Economics, Psychology, and English from Avadh Girls' Degree College (Erstwhile Loreto College), Lucknow University. She has been honoured with several prestigious industry recognitions, including ET Ascent Businesswoman Leader of the Year 2023, ET Ascent Visionary Leader of the Year 2023, and being featured among Asia's Top Women Leaders 2022 and Global Women of Worth Achievers 2021.

Tiny is an avid yoga practitioner, music enthusiast, and passionate traveller - she believes in continually expanding perspectives through new experiences and cultures. She has also championed several purpose-led initiatives throughout her career, including the highly impactful Sight for Kids program,
which enabled vision screening and access to eye care for over 22 million children from under-served communities. In addition, she has actively supported livelihood and skill-development programs across rural India, helping women and men build employable skills through formal training in beauty, wellness, culinary arts, and entrepreneurship. These initiatives reflect her commitment to building inclusive growth and strengthening communities. Tiny, as a seasoned leader, has consistently demonstrated how businesses can create purposeful impact while contributing to social equity and nation-building.</in-capmkt:BriefProfile></xbrli:xbrl>
