<?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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unitRef="INRPerShare">0.9</in-capmkt:DilutedEarningsLossPerShareFromContinuingOperations><in-capmkt:BasicEarningsLossPerShareFromDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">0</in-capmkt:BasicEarningsLossPerShareFromDiscontinuedOperations><in-capmkt:DilutedEarningsLossPerShareFromDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">0</in-capmkt:DilutedEarningsLossPerShareFromDiscontinuedOperations><in-capmkt:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">0.9</in-capmkt:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">0.9</in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">1. These consolidated financial results have been prepared in accordance with the recognition and measurement principle of applicable Indian Accounting Standards (‘Ind AS’) prescribed under Section 133 of the Companies Act, 2013. The above unaudited consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors of the Parent in its meeting held on August 05, 2026. The statutory auditors have expressed an unmodified opinion in the Limited Review Report on these consolidated financial results. &lt;br /&gt; 
 &lt;br /&gt; 
2. The Group operates in one reportable business segment i.e., manufacturing of ‘Steel Tubes, Pipes and Structures’ there are no separate reportable segment pursuant to IND AS-108. &lt;br /&gt; 
 &lt;br /&gt; 
3. As on 30th June, 2026, the Company has a wholly owned subsidiary i.e., JTL Tubes Limited, two direct subsidiaries i.e., JTL Engineering Limited and JTL Defence Limited (Erstwhile RCI Industries and Technologies Limited) and one step down subsidairy i.e., RCI World Trade Link DMCC, Dubai.  &lt;br /&gt; 
 &lt;br /&gt; 
Further, the results of the step down subsidairy have not been consolidated since the subsidairy has been inactive since 19th March, 2022. The Company has an associate company, Powersol Metalcraft Limited (Erstwhile Bhambri Steels Limited), though no joint venture. &lt;br /&gt; 
 &lt;br /&gt; 
4. The figures for quarter ended March 31, 2026 are balancing figures between the audited figures of the full financial year and the limited reviewed year-to-date figures upto the third quarter of the full financial year. &lt;br /&gt; 
 &lt;br /&gt; 
5. The PAT is impacted by Rs.277.90 Lakhs due to depreciation on revalued assets in JTL Defence Limited (Erstwhile RCI Industries &amp; Technologies Limited) &lt;br /&gt; 
 &lt;br /&gt; 
6. Figures for the previous year/ quarters have been reclassified/ regrouped wherever necessary. &lt;br /&gt; 
 &lt;br /&gt; 
7. The results of the Group are also available for investors at www.jtl.one,www.bseindia.com and www.nseindia.com</in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock><in-capmkt:DescriptionOfOtherExpenses contextRef="OneExpenses1D">Other Expenses</in-capmkt:DescriptionOfOtherExpenses><in-capmkt:OtherExpenses contextRef="OneExpenses1D" decimals="-3" unitRef="INR">365618000</in-capmkt:OtherExpenses><in-capmkt:DescriptionOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss11">Items that will not be reclassified to profit or loss</in-capmkt:DescriptionOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss11" decimals="-4" unitRef="INR">3920000</in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="OneD" decimals="-4" unitRef="INR">3920000</in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:IncomeTaxRelatingToItemsThatWillNotBeReclassifiedToProfitOrLoss contextRef="OneD" decimals="-3" unitRef="INR">-6434000</in-capmkt:IncomeTaxRelatingToItemsThatWillNotBeReclassifiedToProfitOrLoss><in-capmkt:DescriptionOfItemThatWillBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillBeReclassifiedToProfitAndLoss11">Items that will be reclassified to profit or loss</in-capmkt:DescriptionOfItemThatWillBeReclassifiedToProfitAndLoss><in-capmkt:AmountOfItemThatWillBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillBeReclassifiedToProfitAndLoss11" decimals="-3" unitRef="INR">1034000</in-capmkt:AmountOfItemThatWillBeReclassifiedToProfitAndLoss><in-capmkt:AmountOfItemThatWillBeReclassifiedToProfitAndLoss contextRef="OneD" decimals="-3" unitRef="INR">1034000</in-capmkt:AmountOfItemThatWillBeReclassifiedToProfitAndLoss><in-capmkt:IncomeTaxRelatingToItemsThatWillBeReclassifiedToProfitOrLoss contextRef="OneD" decimals="-3" unitRef="INR">261000</in-capmkt:IncomeTaxRelatingToItemsThatWillBeReclassifiedToProfitOrLoss><in-capmkt:OtherComprehensiveIncome contextRef="OneD" decimals="-3" unitRef="INR">11127000</in-capmkt:OtherComprehensiveIncome></xbrli:xbrl>