<?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 xlink:href="in-capmkt-ent-2026-01-31.xsd" xlink:type="simple"/><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">500655</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-04-01</xbrli:startDate><xbrli:endDate>2026-06-30</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="OneExpenses1D"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">500655</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-04-01</xbrli:startDate><xbrli:endDate>2026-06-30</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:DetailsOfOtherExpensesAxis">in-capmkt:OtherExpenses1Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="OneExpenses2D"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">500655</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-04-01</xbrli:startDate><xbrli:endDate>2026-06-30</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:DetailsOfOtherExpensesAxis">in-capmkt:OtherExpenses2Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss11"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">500655</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-04-01</xbrli:startDate><xbrli:endDate>2026-06-30</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ItemsThatWillNotBeReclassifiedToProfitAndLossAxis"><in-capmkt:ItemsThatWillNotBeReclassifiedToProfitAndLossDomain>ItemsThatWillNotBeReclassifiedToProfitAndLoss1</in-capmkt:ItemsThatWillNotBeReclassifiedToProfitAndLossDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss12"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">500655</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-04-01</xbrli:startDate><xbrli:endDate>2026-06-30</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ItemsThatWillNotBeReclassifiedToProfitAndLossAxis"><in-capmkt:ItemsThatWillNotBeReclassifiedToProfitAndLossDomain>ItemsThatWillNotBeReclassifiedToProfitAndLoss2</in-capmkt:ItemsThatWillNotBeReclassifiedToProfitAndLossDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="D_Auditor1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">500655</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-04-01</xbrli:startDate><xbrli:endDate>2026-06-30</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:AuditorAxis"><in-capmkt:AuditorDomain>AuditorDomain1</in-capmkt:AuditorDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="D_Auditor2"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">500655</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-04-01</xbrli:startDate><xbrli:endDate>2026-06-30</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:AuditorAxis"><in-capmkt:AuditorDomain>AuditorDomain2</in-capmkt:AuditorDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:unit id="INR"><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unit><xbrli:unit id="INRPerShare"><xbrli:divide><xbrli:unitNumerator><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unitNumerator><xbrli:unitDenominator><xbrli:measure>xbrli:shares</xbrli:measure></xbrli:unitDenominator></xbrli:divide></xbrli:unit><in-capmkt:ScripCode contextRef="OneD">500655</in-capmkt:ScripCode><in-capmkt:Symbol contextRef="OneD">GRWRHITECH</in-capmkt:Symbol><in-capmkt:MSEISymbol contextRef="OneD">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="OneD">INE291A01017</in-capmkt:ISIN><in-capmkt:NameOfTheCompany contextRef="OneD">GARWARE HI-TECH FILMS LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:TypeOfCompany contextRef="OneD">Main Board</in-capmkt:TypeOfCompany><in-capmkt:ClassOfSecurity contextRef="OneD">Equity</in-capmkt:ClassOfSecurity><in-capmkt:DateOfStartOfFinancialYear contextRef="OneD">2026-04-01</in-capmkt:DateOfStartOfFinancialYear><in-capmkt:DateOfEndOfFinancialYear contextRef="OneD">2027-03-31</in-capmkt:DateOfEndOfFinancialYear><in-capmkt:DateOfBoardMeetingWhenFinancialResultsWereApproved contextRef="OneD">2026-08-06</in-capmkt:DateOfBoardMeetingWhenFinancialResultsWereApproved><in-capmkt:DateOnWhichPriorIntimationOfTheMeetingForConsideringFinancialResultsWasInformedToTheExchange contextRef="OneD">2026-07-31</in-capmkt:DateOnWhichPriorIntimationOfTheMeetingForConsideringFinancialResultsWasInformedToTheExchange><in-capmkt:DescriptionOfPresentationCurrency contextRef="OneD">INR</in-capmkt:DescriptionOfPresentationCurrency><in-capmkt:LevelOfRounding contextRef="OneD">Crores</in-capmkt:LevelOfRounding><in-capmkt:TypeOfReportingPeriod contextRef="OneD">Quarterly</in-capmkt:TypeOfReportingPeriod><in-capmkt:ReportingQuarter contextRef="OneD">First quarter</in-capmkt:ReportingQuarter><in-capmkt:IsCompanyReportingMultisegmentOrSingleSegment contextRef="OneD">Single segment</in-capmkt:IsCompanyReportingMultisegmentOrSingleSegment><in-capmkt:DescriptionOfSingleSegment contextRef="OneD">POLYESTER FILM</in-capmkt:DescriptionOfSingleSegment><in-capmkt:DateOfStartOfBoardMeeting contextRef="OneD">2026-08-06</in-capmkt:DateOfStartOfBoardMeeting><in-capmkt:StartTimeOfBoardMeeting contextRef="OneD">12:00:00</in-capmkt:StartTimeOfBoardMeeting><in-capmkt:DateOfEndOfBoardMeeting contextRef="OneD">2026-08-06</in-capmkt:DateOfEndOfBoardMeeting><in-capmkt:EndTimeOfBoardMeeting contextRef="OneD">12:35:00</in-capmkt:EndTimeOfBoardMeeting><in-capmkt:DeclarationOfUnmodifiedOpinionOrStatementOnImpactOfAuditQualification contextRef="OneD">Declaration of unmodified opinion</in-capmkt:DeclarationOfUnmodifiedOpinionOrStatementOnImpactOfAuditQualification><in-capmkt:WhetherStatementOnDeviationOrVariationForProceedsOfPublicIssueOrRightIssueOrPreferentialIssueOrQIPEtcIsApplicableToTheCompanyForTheCurrentQuarter contextRef="OneD">false</in-capmkt:WhetherStatementOnDeviationOrVariationForProceedsOfPublicIssueOrRightIssueOrPreferentialIssueOrQIPEtcIsApplicableToTheCompanyForTheCurrentQuarter><in-capmkt:WhetherTheDisclosureForTheDefaultOnLoansAndDebtSecuritiesIsApplicableToTheEntity contextRef="OneD">false</in-capmkt:WhetherTheDisclosureForTheDefaultOnLoansAndDebtSecuritiesIsApplicableToTheEntity><in-capmkt:NoteForNonApplicabilityOfTheDisclosureForTheDefaultOnLoansAndDebtSecuritiesToTheEntity contextRef="OneD">NA</in-capmkt:NoteForNonApplicabilityOfTheDisclosureForTheDefaultOnLoansAndDebtSecuritiesToTheEntity><in-capmkt:DateOfStartOfReportingPeriod contextRef="OneD">2026-04-01</in-capmkt:DateOfStartOfReportingPeriod><in-capmkt:DateOfEndOfReportingPeriod contextRef="OneD">2026-06-30</in-capmkt:DateOfEndOfReportingPeriod><in-capmkt:WhetherResultsAreAuditedOrUnaudited contextRef="OneD">Unaudited</in-capmkt:WhetherResultsAreAuditedOrUnaudited><in-capmkt:NatureOfReportStandaloneConsolidated contextRef="OneD">Standalone</in-capmkt:NatureOfReportStandaloneConsolidated><in-capmkt:RevenueFromOperations contextRef="OneD" decimals="-5" unitRef="INR">5841400000</in-capmkt:RevenueFromOperations><in-capmkt:OtherIncome contextRef="OneD" decimals="-7" unitRef="INR">160000000</in-capmkt:OtherIncome><in-capmkt:Income contextRef="OneD" decimals="-5" unitRef="INR">6001400000</in-capmkt:Income><in-capmkt:CostOfMaterialsConsumed contextRef="OneD" decimals="-5" unitRef="INR">2719300000</in-capmkt:CostOfMaterialsConsumed><in-capmkt:PurchasesOfStockInTrade contextRef="OneD" decimals="-7" unitRef="INR">0</in-capmkt:PurchasesOfStockInTrade><in-capmkt:ChangesInInventoriesOfFinishedGoodsWorkInProgressAndStockInTrade contextRef="OneD" decimals="-5" unitRef="INR">-435500000</in-capmkt:ChangesInInventoriesOfFinishedGoodsWorkInProgressAndStockInTrade><in-capmkt:EmployeeBenefitExpense contextRef="OneD" decimals="-5" unitRef="INR">436900000</in-capmkt:EmployeeBenefitExpense><in-capmkt:FinanceCosts contextRef="OneD" decimals="-5" unitRef="INR">15100000</in-capmkt:FinanceCosts><in-capmkt:DepreciationDepletionAndAmortisationExpense contextRef="OneD" decimals="-6" unitRef="INR">125000000</in-capmkt:DepreciationDepletionAndAmortisationExpense><in-capmkt:OtherExpenses contextRef="OneD" decimals="-5" unitRef="INR">1459100000</in-capmkt:OtherExpenses><in-capmkt:Expenses contextRef="OneD" decimals="-5" unitRef="INR">4319900000</in-capmkt:Expenses><in-capmkt:ProfitBeforeExceptionalItemsAndTax contextRef="OneD" decimals="-5" unitRef="INR">1681500000</in-capmkt:ProfitBeforeExceptionalItemsAndTax><in-capmkt:ExceptionalItemsBeforeTax contextRef="OneD" decimals="-7" unitRef="INR">0</in-capmkt:ExceptionalItemsBeforeTax><in-capmkt:ProfitBeforeTax contextRef="OneD" decimals="-5" unitRef="INR">1681500000</in-capmkt:ProfitBeforeTax><in-capmkt:CurrentTax contextRef="OneD" decimals="-5" unitRef="INR">377600000</in-capmkt:CurrentTax><in-capmkt:DeferredTax contextRef="OneD" decimals="-5" unitRef="INR">38100000</in-capmkt:DeferredTax><in-capmkt:TaxExpense contextRef="OneD" decimals="-5" unitRef="INR">415700000</in-capmkt:TaxExpense><in-capmkt:NetMovementInRegulatoryDeferralAccountBalancesRelatedToProfitOrLossAndTheRelatedDeferredTaxMovement contextRef="OneD" decimals="-7" unitRef="INR">0</in-capmkt:NetMovementInRegulatoryDeferralAccountBalancesRelatedToProfitOrLossAndTheRelatedDeferredTaxMovement><in-capmkt:ProfitLossForPeriodFromContinuingOperations contextRef="OneD" decimals="-5" unitRef="INR">1265800000</in-capmkt:ProfitLossForPeriodFromContinuingOperations><in-capmkt:ProfitLossFromDiscontinuedOperationsBeforeTax contextRef="OneD" decimals="-7" unitRef="INR">0</in-capmkt:ProfitLossFromDiscontinuedOperationsBeforeTax><in-capmkt:TaxExpenseOfDiscontinuedOperations contextRef="OneD" decimals="-7" unitRef="INR">0</in-capmkt:TaxExpenseOfDiscontinuedOperations><in-capmkt:ProfitLossFromDiscontinuedOperationsAfterTax contextRef="OneD" decimals="-7" unitRef="INR">0</in-capmkt:ProfitLossFromDiscontinuedOperationsAfterTax><in-capmkt:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="OneD" decimals="-7" unitRef="INR">0</in-capmkt:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod><in-capmkt:ProfitLossForPeriod contextRef="OneD" decimals="-5" unitRef="INR">1265800000</in-capmkt:ProfitLossForPeriod><in-capmkt:OtherComprehensiveIncomeNetOfTaxes contextRef="OneD" decimals="-5" unitRef="INR">176800000</in-capmkt:OtherComprehensiveIncomeNetOfTaxes><in-capmkt:ComprehensiveIncomeForThePeriod contextRef="OneD" decimals="-5" unitRef="INR">1442600000</in-capmkt:ComprehensiveIncomeForThePeriod><in-capmkt:PaidUpValueOfEquityShareCapital contextRef="OneD" decimals="-5" unitRef="INR">232300000</in-capmkt:PaidUpValueOfEquityShareCapital><in-capmkt:FaceValueOfEquityShareCapital contextRef="OneD" decimals="INF" unitRef="INRPerShare">10</in-capmkt:FaceValueOfEquityShareCapital><in-capmkt:BasicEarningsLossPerShareFromContinuingOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">54.49</in-capmkt:BasicEarningsLossPerShareFromContinuingOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">54.49</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">54.49</in-capmkt:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">54.49</in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">Notes: &lt;br /&gt; 
 &lt;br /&gt; 
1. The above standalone financial  results have been prepared in accordance with Indian Accounting Standard (Ind As) under section 133 of the Companies Act, 2013 read with relevant  Regulation 33 of the SEBI (LODR) Regulations, 2015 , reviewed by the Audit Committee and approved and taken on record by the Board of Directors of the Company at their respective meetings held on 06th August, 2026. &lt;br /&gt; 
 &lt;br /&gt; 
2. The Company operates in one segment only i.e. Polyester Films and therefore, has only one reportable segment in accordance with IND AS 108 "operating segments". &lt;br /&gt; 
 &lt;br /&gt; 
3. During the quarter the company has made investment of Rs.0.52 cr by way of share application money in its Wholly owned subsidiary namely Garware Hi Tech Global Trading FZCO which was incorporated on 27th April 2026.  &lt;br /&gt; 
 &lt;br /&gt; 
4. Previous period figures have been regrouped and reclassified to make them comparable with the figures of the current period.</in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock><in-capmkt:DescriptionOfOtherExpenses contextRef="OneExpenses1D">Power and Fuel</in-capmkt:DescriptionOfOtherExpenses><in-capmkt:OtherExpenses contextRef="OneExpenses1D" decimals="-5" unitRef="INR">393900000</in-capmkt:OtherExpenses><in-capmkt:DescriptionOfOtherExpenses contextRef="OneExpenses2D">Other Expenses</in-capmkt:DescriptionOfOtherExpenses><in-capmkt:OtherExpenses contextRef="OneExpenses2D" decimals="-5" unitRef="INR">1065200000</in-capmkt:OtherExpenses><in-capmkt:DescriptionOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss11">REMEASUREMENT OF EMPLOYMENT BENEFIT OBLIGATION</in-capmkt:DescriptionOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss11" decimals="-5" unitRef="INR">-6400000</in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:DescriptionOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss12">GAIN ON FAIR VALUATION OF INVESTMENTS</in-capmkt:DescriptionOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss12" decimals="-5" unitRef="INR">211900000</in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="OneD" decimals="-5" unitRef="INR">205500000</in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:IncomeTaxRelatingToItemsThatWillNotBeReclassifiedToProfitOrLoss contextRef="OneD" decimals="-5" unitRef="INR">28700000</in-capmkt:IncomeTaxRelatingToItemsThatWillNotBeReclassifiedToProfitOrLoss><in-capmkt:IncomeTaxRelatingToItemsThatWillBeReclassifiedToProfitOrLoss contextRef="OneD" decimals="-7" unitRef="INR">0</in-capmkt:IncomeTaxRelatingToItemsThatWillBeReclassifiedToProfitOrLoss><in-capmkt:OtherComprehensiveIncome contextRef="OneD" decimals="-5" unitRef="INR">176800000</in-capmkt:OtherComprehensiveIncome><in-capmkt:WhetherResultsAreAuditedOrUnauditedForImpactOfAuditQualification contextRef="OneD">Unaudited</in-capmkt:WhetherResultsAreAuditedOrUnauditedForImpactOfAuditQualification><in-capmkt:DeclarationPursuantToClauseDOfSubRegulation3OfRegulation33OfSEBILODRRegulation2015 contextRef="OneD">true</in-capmkt:DeclarationPursuantToClauseDOfSubRegulation3OfRegulation33OfSEBILODRRegulation2015><in-capmkt:AuditorsFirmName contextRef="D_Auditor1">M/s V. Sankar Aiyar &amp; Co</in-capmkt:AuditorsFirmName><in-capmkt:WhetherTheFirmHoldsAValidPeerReviewCertificateIssuedByPeerReviewBoardOfICAI contextRef="D_Auditor1">true</in-capmkt:WhetherTheFirmHoldsAValidPeerReviewCertificateIssuedByPeerReviewBoardOfICAI><in-capmkt:ValidityDateOfCertificate contextRef="D_Auditor1">2028-04-30</in-capmkt:ValidityDateOfCertificate><in-capmkt:AuditorsFirmName contextRef="D_Auditor2">M/s J H Mehta &amp; Co</in-capmkt:AuditorsFirmName><in-capmkt:WhetherTheFirmHoldsAValidPeerReviewCertificateIssuedByPeerReviewBoardOfICAI contextRef="D_Auditor2">true</in-capmkt:WhetherTheFirmHoldsAValidPeerReviewCertificateIssuedByPeerReviewBoardOfICAI><in-capmkt:ValidityDateOfCertificate contextRef="D_Auditor2">2028-01-31</in-capmkt:ValidityDateOfCertificate></xbrli:xbrl>