<?xml version="1.0" encoding="UTF-8"?>
<!--CIMG V1.1 (21-04-2026)-->
<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">523630</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-08-14</xbrli:startDate><xbrli:endDate>2026-08-14</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">523630</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-14</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_ChangeInManagement1"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">523630</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-14</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">523630</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-08-14</xbrli:startDate><xbrli:endDate>2026-08-14</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">NFL</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">NATIONAL FERTILIZERS LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">523630</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE870D01012</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">2026-08-14</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainD">15:28:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:NumberOfPersonsOrEntitiesForWhomChangeIsBeingReported contextRef="MainI" unitRef="pure" decimals="0">1</in-capmkt:NumberOfPersonsOrEntitiesForWhomChangeIsBeingReported><in-capmkt:DateOfReport contextRef="MainI">2026-08-14</in-capmkt:DateOfReport><in-capmkt:TypeOfChange contextRef="D_ChangeInManagement1">Appointment</in-capmkt:TypeOfChange><in-capmkt:CategoryForChange contextRef="D_ChangeInManagement1">Director</in-capmkt:CategoryForChange><in-capmkt:DesignationOfDesignatedPerson contextRef="D_ChangeInManagement1">Non - Executive Independent Director</in-capmkt:DesignationOfDesignatedPerson><in-capmkt:PositionOfDirectorInBoardTwo contextRef="D_ChangeInManagement1">Not Applicable</in-capmkt:PositionOfDirectorInBoardTwo><in-capmkt:PositionOfDirectorInBoardThree contextRef="D_ChangeInManagement1">Not Applicable</in-capmkt:PositionOfDirectorInBoardThree><in-capmkt:SalutationOfDesignatedPerson contextRef="D_ChangeInManagement1">Mr.</in-capmkt:SalutationOfDesignatedPerson><in-capmkt:NameOfDesignatedPerson contextRef="I_ChangeInManagement1">Mahak Singh</in-capmkt:NameOfDesignatedPerson><in-capmkt:EffectiveDateOfReasonOfChange contextRef="I_ChangeInManagement1">2026-08-14</in-capmkt:EffectiveDateOfReasonOfChange><in-capmkt:TermOfAppointmentInMonths contextRef="D_ChangeInManagement1" unitRef="pure" decimals="INF">36</in-capmkt:TermOfAppointmentInMonths><in-capmkt:BriefProfile contextRef="D_ChangeInManagement1">Shri Mahak Singh is a businessman and a person of eminence with over 30 years of experience in the field of business and public service. He has been actively involved in various social welfare initiatives at the grassroots level, working for the betterment of the community.

He served as a Municipal Councillor (Nigam Parshad) in the Municipal Corporation of Delhi from 2007 to 2017. He also served as Chairman of the Standing Committee of EDMC.

With his extensive experience in business, public service, and grassroots social work, Shri Mahak Singh has contributed significantly to civic administration and community development.
</in-capmkt:BriefProfile><in-capmkt:DisclosureOfRelationshipsBetweenDirectorsInCaseOfAppointmentOfDirector contextRef="D_ChangeInManagement1">NIL</in-capmkt:DisclosureOfRelationshipsBetweenDirectorsInCaseOfAppointmentOfDirector><in-capmkt:AffirmationThatThePersonProposedToBeAppointedAsDirectorIsNotDebarredFromHoldingTheOfficeByVirtueOfAnySEBIOrderOrAnyOtherAuthority contextRef="D_ChangeInManagement1">true</in-capmkt:AffirmationThatThePersonProposedToBeAppointedAsDirectorIsNotDebarredFromHoldingTheOfficeByVirtueOfAnySEBIOrderOrAnyOtherAuthority><in-capmkt:WhetherTheDirectorBeingAppointedIsDisqualifiedFromHoldingTheOfficeOfDirectorPursuantToProvisionsOfSection164OfTheCompaniesAct2013 contextRef="D_ChangeInManagement1">false</in-capmkt:WhetherTheDirectorBeingAppointedIsDisqualifiedFromHoldingTheOfficeOfDirectorPursuantToProvisionsOfSection164OfTheCompaniesAct2013></xbrli:xbrl>
