<?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 Statement of unaudited financial results which are published in accordance with Regulation 33 and 52 of the SEBI (Listing Obligations &amp; Disclosure Requirements) Regulations, 2015, as amended, have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on August 13, 2026. The financial results are in accordance with the Indian Accounting Standards (Ind-AS) as prescribed under section 133 of the Companies Act, 2013 read with the relevant rules thereunder. The above results have been reviewed  by the Statutory Auditors of the Company who have expressed an unmodified review conclusion vide their review reports thereon. &lt;br /&gt; 
 &lt;br /&gt; 
2. During the quarter ended June 30, 2026, under the Employee Stock Grant Scheme, the Company has granted 35,998 stock grants to eligible employees of the Company. Upon vesting, as per the Scheme, equivalent number of equity shares of nominal value of Re. 1 each in the Company shall be issued to the eligible employees on exercising their grants. &lt;br /&gt; 
 &lt;br /&gt; 
3. On November 21, 2025 the Government of India notified four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 , and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The Company/Group had assessed and disclosed the incremental impact of these changes basis actuarial valuation and management estimates and had accounted an additional gratuity and leave benefits liability of Rs. 8.21 crore in the Standalone Financial results for the year ended March 31, 2026, as an Exceptional item. &lt;br /&gt; 
 &lt;br /&gt; 
4. Pursuant to SEBI Circular no. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021 read with Circular no. SEBI/HO/DDHS/DDHS_Div1/P/CIR/2022/0000000103 dated July 29, 2022, the Company and its subsidiary(ies) have listed Commercial Papers and listed Unsecured Non convertible debentures on concerned Stock Exchange(s). &lt;br /&gt; 
 &lt;br /&gt; 
5. Formulae used for Calculation of Key Ratios and Financial indicators: &lt;br /&gt; 
Debt Equity Ratio (Gross) = Total Debt /Equity  &lt;br /&gt; 
Debt Equity Ratio (Net) = DEBT [Borrowings (excluding Lease Liabilities accounted as per Ind AS 116) - Cash and Bank Balance (includes FD) - Liquid Investments] / Equity &lt;br /&gt; 
Debt Service Coverage Ratio = EBITDA / [Interest Expense + Repayment of Long Term Borrowings during the period (netted off to the extent of Long term Loans availed during the same period for the repayments)] &lt;br /&gt; 
Interest Service Coverage Ratio = EBITDA / Interest Expense  &lt;br /&gt; 
EBITDA = Net Profit/(Loss) Before Tax + Interest Expense + Depreciation and Amortisation Expenses+Loss/(Profit) (net) on sale of Property, Plant and Equipment &lt;br /&gt; 
Current Ratio = Current Assets/Current Liabilities &lt;br /&gt; 
Long term Debt to Working Capital = Non Current Borrowing / (Current assets-Current Liabilities) &lt;br /&gt; 
Bad Debts to Accounts Receivable Ratio = Bad Debts/Accounts Receivable &lt;br /&gt; 
Current Liability Ratio = Current Liabilities /Total Liabilities &lt;br /&gt; 
Total Debt to Total Assets = (Non Current Borrowing+Current Borrowing)/Total Assets &lt;br /&gt; 
 &lt;br /&gt; 
6. The Company is in compliance with the requirements of the Chapter XII of SEBI Master circular dated October 15, 2025 applicable to Large Corporate Borrowers. &lt;br /&gt; 
 &lt;br /&gt; 
7. The figures for the quarter ended March 31, 2026 are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures upto the third quarter of that financial year.</in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock><in-capmkt:DescriptionOfOtherExpenses contextRef="OneExpenses1D">Other Expenses</in-capmkt:DescriptionOfOtherExpenses><in-capmkt:OtherExpenses contextRef="OneExpenses1D" decimals="-5" unitRef="INR">2033200000</in-capmkt:OtherExpenses><in-capmkt:DescriptionOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss11">Amount of items that will not be reclassified to profit and loss</in-capmkt:DescriptionOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss11" decimals="-6" unitRef="INR">38000000</in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="OneD" decimals="-6" unitRef="INR">38000000</in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:IncomeTaxRelatingToItemsThatWillNotBeReclassifiedToProfitOrLoss contextRef="OneD" decimals="-7" unitRef="INR">0</in-capmkt:IncomeTaxRelatingToItemsThatWillNotBeReclassifiedToProfitOrLoss><in-capmkt:IncomeTaxRelatingToItemsThatWillBeReclassifiedToProfitOrLoss contextRef="OneD" decimals="-7" unitRef="INR">0</in-capmkt:IncomeTaxRelatingToItemsThatWillBeReclassifiedToProfitOrLoss><in-capmkt:OtherComprehensiveIncome contextRef="OneD" decimals="-6" unitRef="INR">38000000</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">Kalyaniwalla &amp; Mistry LLP</in-capmkt:AuditorsFirmName><in-capmkt:WhetherTheFirmHoldsAValidPeerReviewCertificateIssuedByPeerReviewBoardOfICAI contextRef="D_Auditor1">true</in-capmkt:WhetherTheFirmHoldsAValidPeerReviewCertificateIssuedByPeerReviewBoardOfICAI><in-capmkt:ValidityDateOfCertificate contextRef="D_Auditor1">2027-07-31</in-capmkt:ValidityDateOfCertificate></xbrli:xbrl>