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<xbrli:xbrl xmlns:in-bse-co="http://www.bseindia.com/xbrl/co/2017-09-15/in-bse-co" xmlns:in-bse-co-roles="http://www.bseindia.com/xbrl/co/2017-09-15/in-bse-co-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-bse-co-type="http://www.bseindia.com/xbrl/co/2017-09-15/in-bse-co-types" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-bse-co-2017-09-15.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier 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Officer</in-bse-co:DesignationOfSignatory><in-bse-co:Place contextRef="MainI">AHMEDABAD</in-bse-co:Place><in-bse-co:DateOfFiling contextRef="MainI">2026-09-23</in-bse-co:DateOfFiling><in-bse-co:ISINCode contextRef="MainI">INE885E01042</in-bse-co:ISINCode><in-bse-co:DisclosureUnderRegulation contextRef="MainI">Regulation 7 (2)</in-bse-co:DisclosureUnderRegulation><in-bse-co:RevisedFilling contextRef="MainI">false</in-bse-co:RevisedFilling><in-bse-co:TypeOfInstrument contextRef="Disclosure1">Equity</in-bse-co:TypeOfInstrument><in-bse-co:CategoryOfPerson contextRef="Disclosure1">Designated Person</in-bse-co:CategoryOfPerson><in-bse-co:NameOfThePerson contextRef="Disclosure1">Croll Reynolds International Inc.</in-bse-co:NameOfThePerson><in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalNumberOfSecurity contextRef="Disclosure1" unitRef="shares" decimals="INF">1447500</in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalNumberOfSecurity><in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalPercentageOfShareholding contextRef="Disclosure1" unitRef="pure" decimals="INF">0.0723</in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalPercentageOfShareholding><in-bse-co:SecuritiesAcquiredOrDisposedNumberOfSecurity contextRef="Disclosure1" unitRef="shares" decimals="INF">200149</in-bse-co:SecuritiesAcquiredOrDisposedNumberOfSecurity><in-bse-co:SecuritiesAcquiredOrDisposedValueOfSecurity contextRef="Disclosure1" unitRef="INR" decimals="0">51679086</in-bse-co:SecuritiesAcquiredOrDisposedValueOfSecurity><in-bse-co:SecuritiesAcquiredOrDisposedTransactionType contextRef="Disclosure1">Sell</in-bse-co:SecuritiesAcquiredOrDisposedTransactionType><in-bse-co:SecuritiesHeldPostAcquistionOrDisposalNumberOfSecurity contextRef="Disclosure1" unitRef="shares" decimals="INF">1247351</in-bse-co:SecuritiesHeldPostAcquistionOrDisposalNumberOfSecurity><in-bse-co:SecuritiesHeldPostAcquistionOrDisposalPercentageOfShareholding contextRef="Disclosure1" unitRef="pure" decimals="INF">0.0623</in-bse-co:SecuritiesHeldPostAcquistionOrDisposalPercentageOfShareholding><in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyFromDate contextRef="Disclosure1">2026-09-18</in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyFromDate><in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyToDate contextRef="Disclosure1">2026-09-18</in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyToDate><in-bse-co:ModeOfAcquisitionOrDisposal contextRef="Disclosure1">Market Sale</in-bse-co:ModeOfAcquisitionOrDisposal><in-bse-co:DateOfIntimationToCompany contextRef="Disclosure1">2026-09-22</in-bse-co:DateOfIntimationToCompany><in-bse-co:ExchangeOnWhichTheTradeWasExecuted contextRef="Disclosure1">NSE</in-bse-co:ExchangeOnWhichTheTradeWasExecuted><in-bse-co:DetailsOfChangeInHoldingOfSecuritiesOfPromotersEmployeeOrDirectorOfAListedCompanyAndOtherSuchPersonsTextBlock contextRef="Disclosure1">Croll Reynolds International Inc. has sold equity shares and the disclosure received from Mr. Samuel Croll-III (DIN: 01407244) CEO of Croll Reynolds International Inc. and being Director of MAZDA LIMITED. 

As per the intimation received under regulation 7(2)(a) of SEBI (Prohibition of Insider Trading) Regulations, 2015 from CROLL REYNOLDS INTERNATIONAL INC, the trades were executed on both the stock exchanges BSE &amp; NSE.
</in-bse-co:DetailsOfChangeInHoldingOfSecuritiesOfPromotersEmployeeOrDirectorOfAListedCompanyAndOtherSuchPersonsTextBlock><in-bse-co:TypeOfInstrument contextRef="Disclosure2">Equity</in-bse-co:TypeOfInstrument><in-bse-co:CategoryOfPerson contextRef="Disclosure2">Designated Person</in-bse-co:CategoryOfPerson><in-bse-co:NameOfThePerson contextRef="Disclosure2">Croll Reynolds International Inc.</in-bse-co:NameOfThePerson><in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalNumberOfSecurity contextRef="Disclosure2" unitRef="shares" decimals="INF">1247351</in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalNumberOfSecurity><in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalPercentageOfShareholding contextRef="Disclosure2" unitRef="pure" decimals="INF">0.0623</in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalPercentageOfShareholding><in-bse-co:SecuritiesAcquiredOrDisposedNumberOfSecurity contextRef="Disclosure2" unitRef="shares" decimals="INF">147427</in-bse-co:SecuritiesAcquiredOrDisposedNumberOfSecurity><in-bse-co:SecuritiesAcquiredOrDisposedValueOfSecurity contextRef="Disclosure2" unitRef="INR" decimals="0">37491895</in-bse-co:SecuritiesAcquiredOrDisposedValueOfSecurity><in-bse-co:SecuritiesAcquiredOrDisposedTransactionType contextRef="Disclosure2">Sell</in-bse-co:SecuritiesAcquiredOrDisposedTransactionType><in-bse-co:SecuritiesHeldPostAcquistionOrDisposalNumberOfSecurity contextRef="Disclosure2" unitRef="shares" decimals="INF">1099924</in-bse-co:SecuritiesHeldPostAcquistionOrDisposalNumberOfSecurity><in-bse-co:SecuritiesHeldPostAcquistionOrDisposalPercentageOfShareholding contextRef="Disclosure2" unitRef="pure" decimals="INF">0.0549</in-bse-co:SecuritiesHeldPostAcquistionOrDisposalPercentageOfShareholding><in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyFromDate contextRef="Disclosure2">2026-09-21</in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyFromDate><in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyToDate contextRef="Disclosure2">2026-09-21</in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyToDate><in-bse-co:ModeOfAcquisitionOrDisposal contextRef="Disclosure2">Market Sale</in-bse-co:ModeOfAcquisitionOrDisposal><in-bse-co:DateOfIntimationToCompany contextRef="Disclosure2">2026-09-22</in-bse-co:DateOfIntimationToCompany><in-bse-co:ExchangeOnWhichTheTradeWasExecuted contextRef="Disclosure2">NSE</in-bse-co:ExchangeOnWhichTheTradeWasExecuted><in-bse-co:DetailsOfChangeInHoldingOfSecuritiesOfPromotersEmployeeOrDirectorOfAListedCompanyAndOtherSuchPersonsTextBlock contextRef="Disclosure2">Croll Reynolds International Inc. has sold equity shares and the disclosure received from Mr. Samuel Croll-III (DIN: 01407244) CEO of Croll Reynolds International Inc. and being Director of MAZDA LIMITED. 

As per the intimation received under regulation 7(2)(a) of SEBI (Prohibition of Insider Trading) Regulations, 2015 from CROLL REYNOLDS INTERNATIONAL INC, the trades were executed on both the stock exchanges BSE &amp; NSE.</in-bse-co:DetailsOfChangeInHoldingOfSecuritiesOfPromotersEmployeeOrDirectorOfAListedCompanyAndOtherSuchPersonsTextBlock></xbrli:xbrl>
