<?xml version="1.0" encoding="UTF-8" standalone="no"?><!--IFIndAs V2.1 (26-06-2026)--><xbrli:xbrl xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2026-01-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/IntegratedFinance_IndAS/2026-01-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/IntegratedFinance_IndAS/2026-01-31/in-capmkt-roles" xmlns:in-capmkt-types="http://www.sebi.gov.in/xbrl/2026-01-31/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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The above results were reviewed by Audit Committee and approved by the Board of Directors at their respective meetings held on 04.08.2026 and have been reviewed by the Statutory Auditors of the Company. &lt;br /&gt; 
 &lt;br /&gt; 
2. Figures for the quarter ended 31.03.2026  represents the difference between the audited figures in respect to the full financial year and published figures of period ended 31.12.2025 (limited reviewed).	 &lt;br /&gt; 
 &lt;br /&gt; 
3. Effective November 21, 2025, the Government of India has consolidated multiple existing labour legislations into a unified framework comprising four labour codes collectively referred to as "The New Labour Code". This has resulted in estimated increase in provision for employee benefits of the Company amounting to Rs 20.48 million (net of tax) presented under Exceptional Items for the year ended 31.03.2026. The Company will re-evaluate the impact of these Labour Codes upon notification of the rules, corresponding State level regulations and further clarification/guidance in the matter and impact whereof, if any, will be recognised thereafter &lt;br /&gt; 
 &lt;br /&gt; 
4. The Company is primarily engaged in manufacturing and selling of Pipes, Fittings and allied products in India. It comprises of Pipes and Fittings, Bathware sanitary and Faucet and allied products. &lt;br /&gt; 
 &lt;br /&gt; 
5. The figures for the previous periods have been regrouped wherever necessary.</in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock><in-capmkt:DescriptionOfOtherExpenses contextRef="OneExpenses1D">Other Expenses</in-capmkt:DescriptionOfOtherExpenses><in-capmkt:OtherExpenses contextRef="OneExpenses1D" decimals="-5" unitRef="INR">786500000</in-capmkt:OtherExpenses></xbrli:xbrl>