<?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="INRPerShare">0</in-capmkt:DilutedEarningsLossPerShareFromDiscontinuedOperations><in-capmkt:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">3.22</in-capmkt:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">3.22</in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">1  The above unaudited financial results of the company for the quarter ended June 30th  2025  have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 11th July  2025 The same have been subjected to limited review by the Statutory Auditors  &lt;BR&gt; 
 &lt;BR&gt; 
2  These financial results have been prepared in accordance with the recognition and measurement principles of applicable Indian Accounting Standards   Ind AS   notified under the Companies  Indian Accounting Standards  Rules  2015  as amended  as specified in section 133 of the Companies Act  2013   &lt;BR&gt; 
 &lt;BR&gt; 
3  Based on the management approach as defined in Ind AS 108 - Operating Segments  the Managing Director and CFO evaluates the company s performance and allocates resources based on an analysis of various performance indicators of business segment s in which the company operates  The Company is primarily engaged in the business of Fertilizer manufacturing and other products are backward integration therefore management recognise Fertilizer segment as the sole business segment  Hence  disclosure of segment-wise information is not required and accordingly not provided  &lt;BR&gt; 
 &lt;BR&gt; 
4  The figures for the quarter ended 31st March 2025 are the balancing figures between audited figures in respect of the full finanacial year for the year ended 31st March   2025 and the published unaudited  year to date figures upto 31st December  2024 which are subject to limited review  &lt;BR&gt; 
 &lt;BR&gt; 
5  The Company has long term credit rating CRISIL  A Stable   reaffirmed  by CRISIL  &lt;BR&gt; 
 &lt;BR&gt; 
6  Previous period figures have been regrouped reclassified  wherever necessary  to confirm with the current period classification presentation  &lt;BR&gt; 
 &lt;BR&gt; 
7  For the F Y  2025-26 Company is liable for MAT Tax liability u s 115JB so we made current tax provision and deffered tax provision for the quarter ended 30th June 2025 on the similar basis  &lt;BR&gt; 
 &lt;BR&gt; 
8  The Company does not has any subsidiary associate joint venture company ies   as on 30th June 2025 hence  Consolidated financial statements is not applicable to the Company  &lt;BR&gt; 
 &lt;BR&gt; 
9  Results are available on the websites of the Stock Exchange www nseindia com and Company s website www mbapl com &lt;BR&gt; 
 &lt;BR&gt; 
10  The earning per share  EPS  are not annualized for the quarter ended 30th June 2025   31st March 2025 and 30th June 2024 &lt;BR&gt; 
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