<?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">11.3</in-capmkt:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">11.26</in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">Standalone Notes: &lt;BR&gt; 
1)	The above Unaudited Standalone financial Results for the Quarter ended June 30, 2025 were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held on August 7, 2025. The Statutory Auditors have carried out a limited review on the unaudited standalone financial results and issued unmodified report thereon.	 &lt;BR&gt; 
 &lt;BR&gt; 
2)	The Unaudited Standalone financial results of the Company have been prepared in accordance with the Indian Accounting Standards prescribed under Section 133 of the Companies Act, 2013 (the Act) read with relevant rules issued thereunder (Ind AS) and other accounting principles generally accepted in India and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended).	 &lt;BR&gt; 
 &lt;BR&gt; 
3)	The Company is engaged in the sole activity of carrying on the business of Pharmaceutical Formulations and therefore has only one reportable segment in accordance with Ind AS 108 Operating Segments. Hence no separate segment reporting is applicable to the Company. &lt;BR&gt; 
 &lt;BR&gt; 
4)	Other Income and Profit Before Tax includes:  &lt;BR&gt; 
 &lt;BR&gt; 
Dividend from wholly owned subsidiary Caplin Point Far East Limited, &lt;BR&gt; 
Quarter ended 30.06.2025 - Rs. 8.12 Crores &lt;BR&gt; 
Quarter ended 31.03.2025 - Rs. 15.14 Crores &lt;BR&gt; 
Quarter ended 30.06.2024 - Nil &lt;BR&gt; 
Year ended 31.03.2025 - Rs. 35.53 Crores &lt;BR&gt; 
  &lt;BR&gt; 
 &lt;BR&gt; 
5)	During the quarter ended June 30, 2025 and March 31, 2025 the Company had allotted NIL equity shares of Rs. 2/- each under the Employees Stock Option Schemes and the total number of equity shares of the Company stands at 7,60,11,696 as at June 30, 2025.  The Company had allotted 68,550 equity shares during the quarter ended June 30, 2024. &lt;BR&gt; 
 &lt;BR&gt; 
6)	The Board of Directors at their meeting held on 15th May, 2025 declared an interim dividend of Rs. 3.00 (Rs. Three Only) per equity share (150 percent) for the financial year 2024-25 and was paid to the shareholders on 9th June 2025. The Board of Directors at their meeting held today have recommended a final dividend of Rs. 3 per equity share (150 percent) for the financial year 2024-25 which is subject to approval of the Shareholders in the ensuing Annual General Meeting of the Company.  The total dividend for the financial year 2024-25 including the final dividend (subject to the approval of the Shareholders at the ensuing Annual General Meeting) will be Rs. 6 per equity share (300 percent) of the face value of Rs. 2 each. &lt;BR&gt; 
 &lt;BR&gt; 
 &lt;BR&gt; 
7)	Previous periods figures have been regrouped / reclassified to be in conformity with current periods classification / disclosure, wherever necessary.				 &lt;BR&gt; 
 &lt;BR&gt; 
						 &lt;BR&gt; 
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