<?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">-0.72</in-capmkt:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">-0.72</in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DebtEquityRatio contextRef="OneD" decimals="INF" unitRef="pure">0</in-capmkt:DebtEquityRatio><in-capmkt:DebtServiceCoverageRatio contextRef="OneD" decimals="INF" unitRef="pure">0</in-capmkt:DebtServiceCoverageRatio><in-capmkt:InterestServiceCoverageRatio contextRef="OneD" decimals="INF" unitRef="pure">0</in-capmkt:InterestServiceCoverageRatio><in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">1.	The above Standalone &amp; Consolidated Financial Results of the Company have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on Thursday, 14th August, 2025. The Statutory Auditors have carried out the review of these Standalone &amp; Consolidated Financial Results for the Quarter ended June 30, 2025 and the same are made available on website of the company www.adhikaribrothers.com and website of BSE Limited www.bseindia.com and National Stock Exchange of India Limited on www.nseindia.com where shares of the Company are listed. &lt;BR&gt; 
2.	The Company is operating in a single segment viz. content production and distribution. Hence the results are reported on a single segment basis. &lt;BR&gt; 
3.	The Standalone &amp; Consolidated unaudited Financial Results for the quarter ended June 30, 2025, have been prepared in accordance with recognition and measurement principles laid down in the Indian Accounting Standards Ind AS prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. &lt;BR&gt; 
4.	The Other Equity balances are only given on the basis of audited year end figures of standalone and consolidated financials of the Company. &lt;BR&gt; 
5.	The figures have been re-grouped, re-arranged, reclassified, reworked wherever necessary to conform to the current year accounting treatment. &lt;BR&gt; 
 &lt;BR&gt; 
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