<?xml version="1.0" encoding="UTF-8" standalone="no"?><!--ICGIG V1.1 (01-01-2026)--><xbrli:xbrl xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2024-12-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/IntegratedGovernance/2024-12-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/IntegratedGovernance/2024-12-31/in-capmkt-roles" xmlns:in-capmkt-types="http://www.sebi.gov.in/xbrl/2024-12-31/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-2024-12-31.xsd" xlink:type="simple"/><xbrli:context id="MainD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">519494</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-04-01</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">519494</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-06-30</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="PY_I"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">519494</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-03-31</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_OngoingTaxLitigationsOrDisputes1"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">519494</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-06-30</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:OngoingTaxLitigationsOrDisputesAxis"><in-capmkt:OngoingTaxLitigationsOrDisputesDomain>OngoingTaxLitigationsOrDisputesDomain1</in-capmkt:OngoingTaxLitigationsOrDisputesDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_OngoingTaxLitigationsOrDisputes2"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">519494</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-06-30</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:OngoingTaxLitigationsOrDisputesAxis"><in-capmkt:OngoingTaxLitigationsOrDisputesDomain>OngoingTaxLitigationsOrDisputesDomain2</in-capmkt:OngoingTaxLitigationsOrDisputesDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_OngoingTaxLitigationsOrDisputes3"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">519494</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-06-30</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:OngoingTaxLitigationsOrDisputesAxis"><in-capmkt:OngoingTaxLitigationsOrDisputesDomain>OngoingTaxLitigationsOrDisputesDomain3</in-capmkt:OngoingTaxLitigationsOrDisputesDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_OngoingTaxLitigationsOrDisputes4"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">519494</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-06-30</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:OngoingTaxLitigationsOrDisputesAxis"><in-capmkt:OngoingTaxLitigationsOrDisputesDomain>OngoingTaxLitigationsOrDisputesDomain4</in-capmkt:OngoingTaxLitigationsOrDisputesDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_OngoingTaxLitigationsOrDisputes5"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">519494</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-06-30</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:OngoingTaxLitigationsOrDisputesAxis"><in-capmkt:OngoingTaxLitigationsOrDisputesDomain>OngoingTaxLitigationsOrDisputesDomain5</in-capmkt:OngoingTaxLitigationsOrDisputesDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_OngoingTaxLitigationsOrDisputes6"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">519494</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-06-30</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:OngoingTaxLitigationsOrDisputesAxis"><in-capmkt:OngoingTaxLitigationsOrDisputesDomain>OngoingTaxLitigationsOrDisputesDomain6</in-capmkt:OngoingTaxLitigationsOrDisputesDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_OngoingTaxLitigationsOrDisputes7"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">519494</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-06-30</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:OngoingTaxLitigationsOrDisputesAxis"><in-capmkt:OngoingTaxLitigationsOrDisputesDomain>OngoingTaxLitigationsOrDisputesDomain7</in-capmkt:OngoingTaxLitigationsOrDisputesDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_OngoingTaxLitigationsOrDisputes8"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">519494</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-06-30</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:OngoingTaxLitigationsOrDisputesAxis"><in-capmkt:OngoingTaxLitigationsOrDisputesDomain>OngoingTaxLitigationsOrDisputesDomain8</in-capmkt:OngoingTaxLitigationsOrDisputesDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:ScripCode contextRef="MainI">519494</in-capmkt:ScripCode><in-capmkt:Symbol contextRef="MainI">NKIND</in-capmkt:Symbol><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE542C01019</in-capmkt:ISIN><in-capmkt:NameOfTheCompany contextRef="MainI">N K INDUSTRIES LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:DateOfStartOfFinancialYear contextRef="MainI">2026-04-01</in-capmkt:DateOfStartOfFinancialYear><in-capmkt:DateOfEndOfFinancialYear contextRef="MainI">2027-03-31</in-capmkt:DateOfEndOfFinancialYear><in-capmkt:ReportingQuarter contextRef="MainI">Quarterly</in-capmkt:ReportingQuarter><in-capmkt:DateOfEndOfReportingPeriod contextRef="MainI">2026-06-30</in-capmkt:DateOfEndOfReportingPeriod><in-capmkt:TypeOfCompany contextRef="MainD">Equity</in-capmkt:TypeOfCompany><in-capmkt:WhetherPartAOfAnnexureIOfTheSEBICircularDated31December2024RelatedToComplianceReportOnCorporateGovernanceIsApplicableToTheEntity contextRef="MainD">false</in-capmkt:WhetherPartAOfAnnexureIOfTheSEBICircularDated31December2024RelatedToComplianceReportOnCorporateGovernanceIsApplicableToTheEntity><in-capmkt:ReasonForPartAOfAnnexureIOfTheSEBICircularDated31December2024RelatedToComplianceReportOnCorporateGovernanceIsNotApplicableToTheEntity contextRef="MainD">Not Applicable</in-capmkt:ReasonForPartAOfAnnexureIOfTheSEBICircularDated31December2024RelatedToComplianceReportOnCorporateGovernanceIsNotApplicableToTheEntity><in-capmkt:WhetherPartBOfAnnexureIOfTheSEBICircularDated31December2024RelatedToInvestorGrievanceRedressalReportIsApplicableToTheEntity contextRef="MainD">true</in-capmkt:WhetherPartBOfAnnexureIOfTheSEBICircularDated31December2024RelatedToInvestorGrievanceRedressalReportIsApplicableToTheEntity><in-capmkt:WhetherPartCOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfAcquisitionOfSharesOrVotingRightsInUnlistedCompaniesIsApplicableToTheEntity contextRef="MainD">false</in-capmkt:WhetherPartCOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfAcquisitionOfSharesOrVotingRightsInUnlistedCompaniesIsApplicableToTheEntity><in-capmkt:ReasonForPartCOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfAcquisitionOfSharesOrVotingRightsInUnlistedCompaniesIsNotApplicableToTheEntity contextRef="MainD">Not Applicable</in-capmkt:ReasonForPartCOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfAcquisitionOfSharesOrVotingRightsInUnlistedCompaniesIsNotApplicableToTheEntity><in-capmkt:WhetherPartDOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfImpositionOfFineOrPenaltyIsApplicableToTheEntity contextRef="MainD">false</in-capmkt:WhetherPartDOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfImpositionOfFineOrPenaltyIsApplicableToTheEntity><in-capmkt:ReasonForPartDOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfImpositionOfFineOrPenaltyIsNotApplicableToTheEntity contextRef="MainD">Not Applicable</in-capmkt:ReasonForPartDOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfImpositionOfFineOrPenaltyIsNotApplicableToTheEntity><in-capmkt:WhetherPartEOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfUpdatesToOngoingTaxLitigationsOrDisputesIsApplicableToTheEntity contextRef="MainD">true</in-capmkt:WhetherPartEOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfUpdatesToOngoingTaxLitigationsOrDisputesIsApplicableToTheEntity><in-capmkt:IsSCORESIDAvailable contextRef="MainI">true</in-capmkt:IsSCORESIDAvailable><in-capmkt:SCORESRegistrationID contextRef="MainI">N00147</in-capmkt:SCORESRegistrationID><in-capmkt:TypeOfSubmission contextRef="MainI">Original</in-capmkt:TypeOfSubmission><in-capmkt:NoOfInvestorComplaints contextRef="PY_I" decimals="0" unitRef="pure">0</in-capmkt:NoOfInvestorComplaints><in-capmkt:NoOfInvestorComplaintsReceivedDuringThePeriod contextRef="MainD" decimals="0" unitRef="pure">0</in-capmkt:NoOfInvestorComplaintsReceivedDuringThePeriod><in-capmkt:NoOfInvestorComplaintsDisposedOffDuringThePeriod contextRef="MainD" decimals="0" unitRef="pure">0</in-capmkt:NoOfInvestorComplaintsDisposedOffDuringThePeriod><in-capmkt:NoOfInvestorComplaints contextRef="MainI" decimals="0" unitRef="pure">0</in-capmkt:NoOfInvestorComplaints><in-capmkt:NoOfInvestorComplaintsDuringThePeriod contextRef="MainD" decimals="0" unitRef="pure">0</in-capmkt:NoOfInvestorComplaintsDuringThePeriod><in-capmkt:NameOfTheOpposingParty contextRef="I_OngoingTaxLitigationsOrDisputes1">Commissioner of Income Tax (Appeals) –IX</in-capmkt:NameOfTheOpposingParty><in-capmkt:DateOfInitiationOfTheLitigationDispute contextRef="I_OngoingTaxLitigationsOrDisputes1">2008-11-06</in-capmkt:DateOfInitiationOfTheLitigationDispute><in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure contextRef="I_OngoingTaxLitigationsOrDisputes1">pending</in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure><in-capmkt:CurrentStatusOfTheLitigationOrDispute contextRef="I_OngoingTaxLitigationsOrDisputes1">The case is on going and the last hearing date was  06-02-2025, after that there is no update on the case</in-capmkt:CurrentStatusOfTheLitigationOrDispute><in-capmkt:NameOfTheOpposingParty contextRef="I_OngoingTaxLitigationsOrDisputes2">Sales Tax Tribunal / Commercial Tax Officer</in-capmkt:NameOfTheOpposingParty><in-capmkt:DateOfInitiationOfTheLitigationDispute contextRef="I_OngoingTaxLitigationsOrDisputes2">2001-12-03</in-capmkt:DateOfInitiationOfTheLitigationDispute><in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure contextRef="I_OngoingTaxLitigationsOrDisputes2">pending</in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure><in-capmkt:CurrentStatusOfTheLitigationOrDispute contextRef="I_OngoingTaxLitigationsOrDisputes2">The case is on going and the next hearing is on 24.07.2026</in-capmkt:CurrentStatusOfTheLitigationOrDispute><in-capmkt:NameOfTheOpposingParty contextRef="I_OngoingTaxLitigationsOrDisputes3">Sales Tax Tribunal / Commercial Tax Officer</in-capmkt:NameOfTheOpposingParty><in-capmkt:DateOfInitiationOfTheLitigationDispute contextRef="I_OngoingTaxLitigationsOrDisputes3">2003-05-01</in-capmkt:DateOfInitiationOfTheLitigationDispute><in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure contextRef="I_OngoingTaxLitigationsOrDisputes3">pending</in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure><in-capmkt:CurrentStatusOfTheLitigationOrDispute contextRef="I_OngoingTaxLitigationsOrDisputes3">The case is on going and the next hearing is on 24.07.2026</in-capmkt:CurrentStatusOfTheLitigationOrDispute><in-capmkt:NameOfTheOpposingParty contextRef="I_OngoingTaxLitigationsOrDisputes4">Sales Tax Tribunal / Commercial Tax Officer</in-capmkt:NameOfTheOpposingParty><in-capmkt:DateOfInitiationOfTheLitigationDispute contextRef="I_OngoingTaxLitigationsOrDisputes4">2003-12-04</in-capmkt:DateOfInitiationOfTheLitigationDispute><in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure contextRef="I_OngoingTaxLitigationsOrDisputes4">pending</in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure><in-capmkt:CurrentStatusOfTheLitigationOrDispute contextRef="I_OngoingTaxLitigationsOrDisputes4">The case is on going and the next hearing is on 24.07.2026</in-capmkt:CurrentStatusOfTheLitigationOrDispute><in-capmkt:NameOfTheOpposingParty contextRef="I_OngoingTaxLitigationsOrDisputes5">Sales Tax Tribunal / Commercial Tax Officer</in-capmkt:NameOfTheOpposingParty><in-capmkt:DateOfInitiationOfTheLitigationDispute contextRef="I_OngoingTaxLitigationsOrDisputes5">2005-05-03</in-capmkt:DateOfInitiationOfTheLitigationDispute><in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure contextRef="I_OngoingTaxLitigationsOrDisputes5">pending</in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure><in-capmkt:CurrentStatusOfTheLitigationOrDispute contextRef="I_OngoingTaxLitigationsOrDisputes5">The case is on going and the next hearing is on 24.07.2026</in-capmkt:CurrentStatusOfTheLitigationOrDispute><in-capmkt:NameOfTheOpposingParty contextRef="I_OngoingTaxLitigationsOrDisputes6">Sales Tax Tribunal / Commercial Tax Officer</in-capmkt:NameOfTheOpposingParty><in-capmkt:DateOfInitiationOfTheLitigationDispute contextRef="I_OngoingTaxLitigationsOrDisputes6">2011-03-31</in-capmkt:DateOfInitiationOfTheLitigationDispute><in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure contextRef="I_OngoingTaxLitigationsOrDisputes6">pending</in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure><in-capmkt:CurrentStatusOfTheLitigationOrDispute contextRef="I_OngoingTaxLitigationsOrDisputes6">The case is on going and the next hearing is on 24.07.2026</in-capmkt:CurrentStatusOfTheLitigationOrDispute><in-capmkt:NameOfTheOpposingParty contextRef="I_OngoingTaxLitigationsOrDisputes7">Sales Tax Tribunal / Commercial Tax Officer</in-capmkt:NameOfTheOpposingParty><in-capmkt:DateOfInitiationOfTheLitigationDispute contextRef="I_OngoingTaxLitigationsOrDisputes7">2016-03-17</in-capmkt:DateOfInitiationOfTheLitigationDispute><in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure contextRef="I_OngoingTaxLitigationsOrDisputes7">pending</in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure><in-capmkt:CurrentStatusOfTheLitigationOrDispute contextRef="I_OngoingTaxLitigationsOrDisputes7">The case is on going and the next hearing is on 24.07.2026</in-capmkt:CurrentStatusOfTheLitigationOrDispute><in-capmkt:NameOfTheOpposingParty contextRef="I_OngoingTaxLitigationsOrDisputes8">The Directorate of Enforcement, Government of India</in-capmkt:NameOfTheOpposingParty><in-capmkt:DateOfInitiationOfTheLitigationDispute contextRef="I_OngoingTaxLitigationsOrDisputes8">2018-05-30</in-capmkt:DateOfInitiationOfTheLitigationDispute><in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure contextRef="I_OngoingTaxLitigationsOrDisputes8">Government of Maharashtra has filed suplementary charge sheet dated 25th December, 2018, under the MPID Act against the Company and the Chairman.  further adjourned to various dates and now the matter is further adjourned to 25th November, 2025.</in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure><in-capmkt:CurrentStatusOfTheLitigationOrDispute contextRef="I_OngoingTaxLitigationsOrDisputes8">The case is on going and the next hearing is on 20.07.2026</in-capmkt:CurrentStatusOfTheLitigationOrDispute></xbrli:xbrl>