<?xml version="1.0" encoding="UTF-8" standalone="no"?><!--IFFIndAs--><xbrli:xbrl xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2025-01-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/IntegratedFinance_IndAS/2025-01-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/IntegratedFinance_IndAS/2025-01-31/in-capmkt-roles" xmlns:in-capmkt-types="http://www.sebi.gov.in/xbrl/2025-01-31/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 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unitRef="INR">700000</in-capmkt:OtherComprehensiveIncomeNetOfTaxes><in-capmkt:ComprehensiveIncomeForThePeriod contextRef="OneD" decimals="-5" unitRef="INR">262200000</in-capmkt:ComprehensiveIncomeForThePeriod><in-capmkt:PaidUpValueOfEquityShareCapital contextRef="OneD" decimals="-5" unitRef="INR">151100000</in-capmkt:PaidUpValueOfEquityShareCapital><in-capmkt:FaceValueOfEquityShareCapital contextRef="OneD" decimals="INF" unitRef="INRPerShare">2</in-capmkt:FaceValueOfEquityShareCapital><in-capmkt:BasicEarningsLossPerShareFromContinuingOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">3.46</in-capmkt:BasicEarningsLossPerShareFromContinuingOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">3.4</in-capmkt:DilutedEarningsLossPerShareFromContinuingOperations><in-capmkt:BasicEarningsLossPerShareFromDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">0</in-capmkt:BasicEarningsLossPerShareFromDiscontinuedOperations><in-capmkt:DilutedEarningsLossPerShareFromDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">0</in-capmkt:DilutedEarningsLossPerShareFromDiscontinuedOperations><in-capmkt:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">3.46</in-capmkt:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">3.4</in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">A The Company business segment is primarily consumer packaging and all other activities of the Company are incidental to this business segment &lt;BR&gt; 
 &lt;BR&gt; 
B During the previous year ended December 31 2024 the conditions precedent in respect of the two conveyance deeds that had been executed in 2023 were satisfied and the Company received the balance consideration of Rs 2217 million the Company had received an advance of Rs 595 million during the previous year ended December 31 2023 The Statement of profit and loss account for previous year ended December 31 2024 includes the impact of profit in respect of these two conveyance deeds amounting to Rs 2781 million which has been disclosed as Exceptional item and consequently Capital Gains Tax on the same amounts to Rs 636 million &lt;BR&gt; 
 &lt;BR&gt; 
During the previous year ended December 31 2024 the Company had recognised profit on sale of property plant and equipments of Rs 306 million pertaining to Hyderabad plant where accelerated depreciation was charged in 2023 in respect of property plant and equipment that were not useable at other locations The results for the quarter ended March 31 2025 include the impact of profit on sale of property plant and equipments of Rs 63 million which has been disclosed as Exceptional item &lt;BR&gt; 
 &lt;BR&gt; 
The results for the quarter ended March 31 2025 also include the impact of profit on sale of property plant and equipments of Rs 04 million pertaining to Daman plant which has been disclosed as Exceptional item in respect of which accelerated depreciation was charged in 2023 that were not useable at other locations  &lt;BR&gt; 
 &lt;BR&gt; 
C The figures for the quarter ended December 31 2024 are the balancing figures between audited figures in respect of the full financial year and the unaudited published year to date figures upto the third quarter of that year &lt;BR&gt; 
 &lt;BR&gt; 
D The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on April 22 2025 &lt;BR&gt; 
 &lt;BR&gt; 
E The statutory auditors have issued an unmodified report on the above financial results &lt;BR&gt; 
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