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<!--REG30PARAB V1.0 (01-06-2026)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2026-04-30/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Regulation_30_Para_B_Of_Part_A_Of_Schedule_III/2026-04-30/in-capmkt/in-capmkt-ent" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-types="http://www.sebi.gov.in/xbrl/2026-04-30/in-capmkt-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.w3.org/1999/xlink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2026-04-30.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">539044</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-10</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_CapacityAddition"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">539044</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-10</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIIIAxis">in-capmkt:CapacityAdditionMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:unit id="INR"><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unit><in-capmkt:NSESymbol contextRef="MainI">MANAKSTEEL</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">MANAKSIA STEELS LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">539044</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE824Q01011</in-capmkt:ISIN><in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">Capacity addition/Product launch (Sub-para 3-Para B)</in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="I_CapacityAddition">Capacity addition</in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">New</in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting contextRef="MainI">true</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting><in-capmkt:DateOfBoardMeeting contextRef="MainI">2026-08-10</in-capmkt:DateOfBoardMeeting><in-capmkt:StartTimeOfTheMeeting contextRef="MainI">13:30:00</in-capmkt:StartTimeOfTheMeeting><in-capmkt:EndTimeOfTheMeeting contextRef="MainI">19:45:00</in-capmkt:EndTimeOfTheMeeting><in-capmkt:DateOfReport contextRef="MainI">2026-08-10</in-capmkt:DateOfReport><in-capmkt:ExistingCapacityOfProjectOrPlant contextRef="MainI">284200 MTPA</in-capmkt:ExistingCapacityOfProjectOrPlant><in-capmkt:ExistingCapacityUtilizationByProjectOrPlant contextRef="MainI">Approx 83%</in-capmkt:ExistingCapacityUtilizationByProjectOrPlant><in-capmkt:ProposedCapacityAdditionInProjectOrPlant contextRef="MainI">506000 MTPA</in-capmkt:ProposedCapacityAdditionInProjectOrPlant><in-capmkt:PeriodWithinWhichCapacityIsToBeAdded contextRef="MainI">By the Financial year ended 2033-34 in phased manner</in-capmkt:PeriodWithinWhichCapacityIsToBeAdded><in-capmkt:InvestmentRequiredForProposedCapacityAddition contextRef="MainI" unitRef="INR" decimals="0">8000000000</in-capmkt:InvestmentRequiredForProposedCapacityAddition><in-capmkt:ModeOfFinancingForCapacityAddition contextRef="MainI">Combination of Internal Accruals &amp; Debts</in-capmkt:ModeOfFinancingForCapacityAddition><in-capmkt:RationaleForCapacityAddition contextRef="MainI">To cater the Company’s future growth plan and address increasing captive and market demand</in-capmkt:RationaleForCapacityAddition><in-capmkt:RemarksForWebsiteDisseminationForCapacityAdditionAsPerSubPara3OfParaB contextRef="MainI">Annexure-B &lt;br /&gt; 
 &lt;br /&gt; 
Details of proposed capacity addition for production of Speciality Steels Products (CR/Coated/Colour Coated) as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular dated 30th January, 2026: &lt;br /&gt; 
 &lt;br /&gt; 
Phase I: &lt;br /&gt; 
Sl. No.	Particulars	Cold Rolled Coil (CR)	Coated (GL/GP)	Colour Coated (CC) &lt;br /&gt; 
1.		Existing capacity	80,000 Tonnes per annum	1,44,200 Tonnes per annum	60,000 Tonnes per annum &lt;br /&gt; 
2.		Existing capacity utilization	Approx. 86%	Approx.75%	Approx.100% &lt;br /&gt; 
3.		Proposed capacity addition	95,000 Tonnes per annum	31,000 Tonnes per annum	90,000 Tonnes per annum &lt;br /&gt; 
4.		Total Capacity after proposed addition	1,75,000 Tonnes per annum	1,75,200 Tonnes per annum	1,50,000 Tonnes per annum &lt;br /&gt; 
5.		Period within which the proposed capacity is to be added	By the Financial year ended 2029-30 (approx.) &lt;br /&gt; 
6.		Investment required	Approx. Rs. 375 crores &lt;br /&gt; 
7.		Mode of financing	Debts and Internal accruals  &lt;br /&gt; 
8.		Rationale	To cater the Company’s future growth plan and address increasing captive and market demand &lt;br /&gt; 
Phase II: &lt;br /&gt; 
Sl. No.	Particulars	Cold Rolled Coil (CR)	Coated (GL/GP)	Colour Coated (CC) &lt;br /&gt; 
1.		Proposed capacity addition	1,00,000 Tonnes per annum	1,00,000 Tonnes per annum	90,000 Tonnes per annum &lt;br /&gt; 
2.		Total Capacity after proposed addition	2,75,000 Tonnes per annum	2,75,200 Tonnes per annum	2,40,000 Tonnes per annum &lt;br /&gt; 
3.		Period within which the proposed capacity is to be added	By the Financial year ended 2033-34 (approx.) &lt;br /&gt; 
4.		Investment required	Approx. Rs. 425 crores plus Land value &lt;br /&gt; 
5.		Mode of financing	Debts and Internal accruals  &lt;br /&gt; 
6.		Rationale	To cater the Company’s future growth plan and address increasing captive and market demand &lt;br /&gt; 
 &lt;br /&gt; 
</in-capmkt:RemarksForWebsiteDisseminationForCapacityAdditionAsPerSubPara3OfParaB></xbrli:xbrl>
