<?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">54.88</in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">1. The above standalone financial results are prepared in accordance with the lndian Accounting Standards prescribed under section 133 of the Companies Act, 2013 and are in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI LODR Regulations 2015 &lt;BR&gt; 
 &lt;BR&gt; 
2. The above standalone financial results of the Company were reviewed and recommended by the Audit Committee on 11 August 2025 and subsequently approved by the Board of Directors at its meeting held on 12 August 2025. The auditors have issued an unmodified review report on the financial results for the quarter ended 30 June 2025.  &lt;BR&gt; 
 &lt;BR&gt; 
3. The figures for the quarter ended 31 March 2025 are the balancing figures between the audited figures in respect of the full financial year and the unaudited published figures upto nine months of the relevent financial year.  &lt;BR&gt; 
 &lt;BR&gt; 
4.The Board of Directors of the Company at their meeting held on 10 December 2024 have approved the transfer of Generic Business Undertaking to Alkem Wellness Limited, a wholly owned subsidiary of the Company as a going concern, on a slump sale basis. &lt;BR&gt; 
 &lt;BR&gt; 
Consequently the proposed transfer of the Generic Business has been disclosed as discontinued operations in accordance with Ind AS 105 Non - current Assets Held for Sale and Discontinued Operations. The figures for the previous period have been restated to give effect to the presentation requirement of Ind AS 105 Non - current Assets Held for Sale and Discontinued Operations.  &lt;BR&gt; 
 &lt;BR&gt; 
The Company is currently in process of executing the Business Transfer Agreement which is expected to be completed on 01 October 2025. &lt;BR&gt; 
 &lt;BR&gt; 
Key financial information of Discontinued Operations is stated in the notes section of pdf file. &lt;BR&gt; 
 &lt;BR&gt; 
5. The comparative financial information of the Company for the quarter ended 30 June 2024, prepared in accordance with Ind AS included in this statement have been reviewed by the predecessor auditor. The report of the predecessor auditor on the comparative financial information is dated 09 August 2024. These previously issued financial information have been adjusted to comply with Ind AS 105 Non-current Assets Held for Sale and Discontinued Operations and included in this Statement as comparative financial information. The adjustments made to the previously issued financial information to comply with Ind AS have been reviewed by existing auditors, as applicable. &lt;BR&gt; 
 &lt;BR&gt; 
6. During the previous year, the Company as part of its ongoing initiative of networking, strategy and optimisation of manufacturing facilities had identified divestment of its Indore facility. The said facility has been sold in the current quarter in accordance with the business transfer agreement entered with the buyer. The resulting gain amounting to Rs 142.9 million has been classified and disclosed as an Exceptional Item in the results for the quarter ended June 30, 2025. &lt;BR&gt; 
 &lt;BR&gt; 
7. The Company has made the following acquisitions in wholly owned subsidiaries during the quarter ended 30 June 2025:  &lt;BR&gt; 
a. 100% stake in Adroit Biomed Limited, on 23 April 2025 for a total consideration of Rs 1,400 Million subject to conditions in the agreement.  &lt;BR&gt; 
 &lt;BR&gt; 
b. 100% stake in Bombay Ortho Industries Private Limited, on 16 April 2025 through its wholly owned subsidiary Alkem Medtech Private Limited for a total consideration of Rs 1,470 Million subject to conditions in the agreement.  &lt;BR&gt; 
 &lt;BR&gt; 
The said acquisitions do not have any material impact on the results for the quarter ended 30 June 2025. &lt;BR&gt; 
 &lt;BR&gt; 
8. The Company operates in one reportable business segment i.e. Pharmaceuticals, accordingly no separate disclosure of segment information has been made.</in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock><in-capmkt:DescriptionOfOtherExpenses contextRef="OneExpenses1D">Other expenses</in-capmkt:DescriptionOfOtherExpenses><in-capmkt:OtherExpenses contextRef="OneExpenses1D" decimals="-5" unitRef="INR">5751800000</in-capmkt:OtherExpenses><in-capmkt:DescriptionOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss11">In respect of continuing operations:</in-capmkt:DescriptionOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss11" decimals="-5" unitRef="INR">-31400000</in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:DescriptionOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss12">In respect of discontinued operations:</in-capmkt:DescriptionOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss12" decimals="-5" unitRef="INR">-1700000</in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="OneD" decimals="-5" unitRef="INR">-33100000</in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:IncomeTaxRelatingToItemsThatWillNotBeReclassifiedToProfitOrLoss contextRef="OneD" decimals="-5" unitRef="INR">-11600000</in-capmkt:IncomeTaxRelatingToItemsThatWillNotBeReclassifiedToProfitOrLoss><in-capmkt:IncomeTaxRelatingToItemsThatWillBeReclassifiedToProfitOrLoss contextRef="OneD" decimals="-6" unitRef="INR">0</in-capmkt:IncomeTaxRelatingToItemsThatWillBeReclassifiedToProfitOrLoss><in-capmkt:OtherComprehensiveIncome contextRef="OneD" decimals="-5" unitRef="INR">-21500000</in-capmkt:OtherComprehensiveIncome></xbrli:xbrl>