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<xbrli:xbrl xmlns:in-bse-fin="http://www.bseindia.com/xbrl/fin/2020-03-31/in-bse-fin" xmlns:in-bse-fin-roles="http://www.bseindia.com/xbrl/fin/2020-03-31/in-bse-fin-roles" xmlns:in-bse-fin-ent="http://www.bseindia.com/xbrl/fin/2020-03-31/in-bse-fin/in-bse-fin-ent" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-bse-fin-types="http://www.bseindia.com/xbrl/fin/2020-03-31/in-bse-fin-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="Ind-AS_entry_point_2020-03-31.xsd"/><xbrli:context 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contextRef="OneD">2022-07-22</in-bse-fin:DateOfBoardMeetingWhenFinancialResultsWereApproved><in-bse-fin:DateOnWhichPriorIntimationOfTheMeetingForConsideringFinancialResultsWasInformedToTheExchange contextRef="OneD">2022-07-11</in-bse-fin:DateOnWhichPriorIntimationOfTheMeetingForConsideringFinancialResultsWasInformedToTheExchange><in-bse-fin:DescriptionOfPresentationCurrency contextRef="OneD">INR</in-bse-fin:DescriptionOfPresentationCurrency><in-bse-fin:LevelOfRoundingUsedInFinancialStatements contextRef="OneD">Lakhs</in-bse-fin:LevelOfRoundingUsedInFinancialStatements><in-bse-fin:ReportingQuarter contextRef="OneD">First quarter</in-bse-fin:ReportingQuarter><in-bse-fin:IsCompanyReportingMultisegmentOrSingleSegment contextRef="OneD">Single segment</in-bse-fin:IsCompanyReportingMultisegmentOrSingleSegment><in-bse-fin:DescriptionOfSingleSegment contextRef="OneD">The Company operates in single segment namely “ Styrenics and allied 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decimals="INF">20.11</in-bse-fin:BasicEarningsLossPerShareFromContinuingOperations><in-bse-fin:DilutedEarningsLossPerShareFromContinuingOperations contextRef="OneD" unitRef="INRPerShare" decimals="INF">20.11</in-bse-fin:DilutedEarningsLossPerShareFromContinuingOperations><in-bse-fin:BasicEarningsLossPerShareFromDiscontinuedOperations contextRef="OneD" unitRef="INRPerShare" decimals="INF">0</in-bse-fin:BasicEarningsLossPerShareFromDiscontinuedOperations><in-bse-fin:DilutedEarningsLossPerShareFromDiscontinuedOperations contextRef="OneD" unitRef="INRPerShare" decimals="INF">0</in-bse-fin:DilutedEarningsLossPerShareFromDiscontinuedOperations><in-bse-fin:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" unitRef="INRPerShare" decimals="INF">20.11</in-bse-fin:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-bse-fin:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" unitRef="INRPerShare" decimals="INF">20.11</in-bse-fin:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">1 Post completion of Share Capital Reduction Scheme of the Company the new shares with reduced nominal and paid up value of Rs.4/- per share were listed  on BSE and NSE for trading on  24.05.2022.  The paid up share capital of the Company now stands reduced to Rs.37,60,82,684/- from Rs.94,02,06,710/- earlier.  &lt;BR&gt; 
 &lt;BR&gt; 
2 Projects for setting up of 4th line of Polystyrene and expansion of Expandable Polystyrene at both plant locations are now scheduled to be completed by August, 2022 due to late arrival of some of the imported equipment. These projects would add to the Company's capacity 1,10,000 MTA of Polystyrene/Expandable Polystyrene. &lt;BR&gt; 
 &lt;BR&gt; 
3 The results for the first quarter ended June 2022, were subjected to a limited review by the Statutory Auditors. The statement of unaudited financial results was recommended by the Audit Committee and approved by the Board of Directors at their meeting held on July  22, 2022.  &lt;BR&gt; 
 &lt;BR&gt; 
4 The Unaudited Standalone financial results of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013 (“The Act”) read with the relevant rules thereunder and in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. &lt;BR&gt; 
 &lt;BR&gt; 
5 Figures of the previous period are regrouped and  re-arranged, wherever necessary. The figures for the quarter ended 31 March 2022 are the balancing figures between the audited figures in respect of the full previous financial year 2021-22 and the published unaudited year to date figures upto the period ended December 31, 2021 which were subjected to limited review.  &lt;BR&gt; 
 &lt;BR&gt; 
6 The Company operates in single segment namely “ Styrenics and allied products”. &lt;BR&gt; 
</in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock><in-bse-fin:DescriptionOfOtherExpenses contextRef="OneExpenses1D">OTHER EXPENSES</in-bse-fin:DescriptionOfOtherExpenses><in-bse-fin:OtherExpenses contextRef="OneExpenses1D" unitRef="INR" decimals="-3">722131000</in-bse-fin:OtherExpenses><in-bse-fin:IncomeTaxRelatingToItmesThatWillNotBeReclassifiedToProfitOrLoss contextRef="OneD" unitRef="INR" decimals="-5">0</in-bse-fin:IncomeTaxRelatingToItmesThatWillNotBeReclassifiedToProfitOrLoss><in-bse-fin:IncomeTaxRelatingToItmesThatWillBeReclassifiedToProfitOrLoss contextRef="OneD" unitRef="INR" decimals="-5">0</in-bse-fin:IncomeTaxRelatingToItmesThatWillBeReclassifiedToProfitOrLoss></xbrli:xbrl>
