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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">500710</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-21</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_StageOfTheLitigationIsConcludedOrDisputeIsResolved"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">500710</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-21</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIIIAxis">in-capmkt:StageOfTheLitigationIsConcludedOrDisputeIsResolvedMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="I_SettlementOfProceedings"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">500710</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-21</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:StageOfTheLitigationIsConcludedOrDisputeIsResolvedAsPerSubPara8OfParaBAxis">in-capmkt:SettlementOfProceedingsMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">JSWDULUX</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">JSW DULUX LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">500710</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE133A01011</in-capmkt:ISIN><in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">Pendency of any litigation(s) or dispute(s) (Sub-para 8-Para B)</in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="I_StageOfTheLitigationIsConcludedOrDisputeIsResolved">Regularly till the litigation is concluded or dispute is resolved</in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">New</in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting contextRef="MainI">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting><in-capmkt:DateOfOccurrenceOfEventOrInformation contextRef="MainI">2026-09-21</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainI">09:00:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:DateOfReport contextRef="MainI">2026-09-21</in-capmkt:DateOfReport><in-capmkt:StageOfDisclosureOfLitigationOrDispute contextRef="I_SettlementOfProceedings">Settlement of the proceedings</in-capmkt:StageOfDisclosureOfLitigationOrDispute><in-capmkt:DetailsOfLitigationOrDisputeForWhichDisclosureIsBeingMade contextRef="I_SettlementOfProceedings">Receipt of Appeal Order from the Karnataka GST Dept.</in-capmkt:DetailsOfLitigationOrDisputeForWhichDisclosureIsBeingMade><in-capmkt:DateOfOriginalLitigationDisclosure contextRef="I_SettlementOfProceedings">2026-04-22</in-capmkt:DateOfOriginalLitigationDisclosure><in-capmkt:DetailsOfSettlementOfLitigation contextRef="I_SettlementOfProceedings">The Company had received a Demand order from the Karnataka GST Department on 24.04.2026 for the period 2019-20 mentioning the aggregate demand amounting to Rs. 14,75,83,468/-(comprising Tax amounting to Rs. 4,80,57,137/-; Interest amounting to Rs. 5,14,69,194/-; and Penalty amounting to Rs. 4,80,57,137/-).
To that, the Company filed an appeal along with the necessary supporting documents within the required timeframe.
The Joint Commissioner of the LGSTO 38 in Bengaluru, Karnataka, reviewed the said submissions and issued an Appeal Order (dated 19.09.2026), as received by the Company on 21.09.2026 at 9:00 am, nullifying the entire demand amount aggregating to Rs. 14,75,83,468/-.                                                           As a result, the original Demand Notice/ order stands annulled.</in-capmkt:DetailsOfSettlementOfLitigation><in-capmkt:LitigationAgainstParty contextRef="I_SettlementOfProceedings">Company</in-capmkt:LitigationAgainstParty><in-capmkt:TermsOfSettlementOfLitigation contextRef="I_SettlementOfProceedings">The Joint Commissioner of the LGSTO 38 in Bengaluru, Karnataka, reviewed the said submissions and issued an Appeal Order (dated 19.09.2026), as received by the Company on 21.09.2026 at 9:00 am, nullifying the entire demand amount aggregating to Rs. 14,75,83,468/-.                                                           As a result, the original Demand Notice/ order stands annulled.</in-capmkt:TermsOfSettlementOfLitigation><in-capmkt:CompensationOrPenaltyPaidForSettlement contextRef="I_SettlementOfProceedings">None</in-capmkt:CompensationOrPenaltyPaidForSettlement><in-capmkt:ImpactOfSettlementOnTheFinancialPositionOfTheListedEntity contextRef="I_SettlementOfProceedings">As aforesaid</in-capmkt:ImpactOfSettlementOnTheFinancialPositionOfTheListedEntity></xbrli:xbrl>
