<?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 statutory auditors have carried out a limited review of the Standalone statement and issued an unmodified report thereon. &lt;br /&gt; 
2.  The financial results have been prepared in accordance with Indian Accounting Standard (IND AS) notified under section 133 of the companies Act, 2013, read together with revelant rules issued there under and other accounting principles generally accepted in India. &lt;br /&gt; 
3.  The Company is in the business of manufacturing of steel products and hence has only one reportable operating segment as per Ind AS 108 operating Segment. Therefore the segment wise reporting is not required. &lt;br /&gt; 
 4.  The figures for the quarter ended March 31, 2026 are the balancing figures between the audited figures for the full financial year and the published figure of nine months ended 31 December 2025 which were subjected to limited review by Statutory Auditor. &lt;br /&gt; 
5. The figures for the corresponding previous period  have been regrouped/rearranged wherever found necessary. &lt;br /&gt; 
6. The above reults are also available on www.vrajtmt.in,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="-5" unitRef="INR">161900000</in-capmkt:OtherExpenses></xbrli:xbrl>