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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>2026-10-14</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>2026-10-14</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>2026-10-14</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">2026-10-13</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainI">17:40:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:DateOfReport contextRef="MainI">2026-10-14</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 Madhya Pradesh GST Department</in-capmkt:DetailsOfLitigationOrDisputeForWhichDisclosureIsBeingMade><in-capmkt:DateOfOriginalLitigationDisclosure contextRef="I_SettlementOfProceedings">2024-08-29</in-capmkt:DateOfOriginalLitigationDisclosure><in-capmkt:DetailsOfSettlementOfLitigation contextRef="I_SettlementOfProceedings">The Madhya Pradesh GST Department had issued a Demand Order (dated 28th  August 2024) under Section 73 of the CGST/SGST Act, 2017, for the period from July 2022 to March 2023. The said Order disallowed Input Tax Credit (ITC) and mentioned a demand of Rs. 77,13,373/- (comprising Tax amounting to Rs. 70,12,157/- and Penalty amounting to Rs. 7,01,216; Interest thereon was stated as Nil in the said Order).

The Company subsequently filed an appeal against the said Order alongwith the supporting documents within the given time limit.

The Commissioner of Appeals, Madhya Pradesh GST Department, reviewed the said appeal and issued an Appeal Order (dated 8th October 2026) as received by the Company on 13th October 2026 at 5:40 pm). The demand amount as per the said Appeal Order is Nil and accordingly, the Demand Order stands annulled.</in-capmkt:DetailsOfSettlementOfLitigation><in-capmkt:LitigationAgainstParty contextRef="I_SettlementOfProceedings">Company</in-capmkt:LitigationAgainstParty><in-capmkt:TermsOfSettlementOfLitigation contextRef="I_SettlementOfProceedings">The Madhya Pradesh GST Department had issued a Demand Order (dated 28th  August 2024) under Section 73 of the CGST/SGST Act, 2017, for the period from July 2022 to March 2023. The said Order disallowed Input Tax Credit (ITC) and mentioned a demand of Rs. 77,13,373/- (comprising Tax amounting to Rs. 70,12,157/- and Penalty amounting to Rs. 7,01,216; Interest thereon was stated as Nil in the said Order).

The Company subsequently filed an appeal against the said Order alongwith the supporting documents within the given time limit.

The Commissioner of Appeals, Madhya Pradesh GST Department, reviewed the said appeal and issued an Appeal Order (dated 8th October 2026) as received by the Company on 13th October 2026 at 5:40 pm). The demand amount as per the said Appeal Order is Nil and accordingly, the Demand Order stands annulled.</in-capmkt:TermsOfSettlementOfLitigation><in-capmkt:CompensationOrPenaltyPaidForSettlement contextRef="I_SettlementOfProceedings">Nil</in-capmkt:CompensationOrPenaltyPaidForSettlement><in-capmkt:ImpactOfSettlementOnTheFinancialPositionOfTheListedEntity contextRef="I_SettlementOfProceedings">The demand amount as per the said Appeal Order is Nil and accordingly, the Demand Order stands annulled.</in-capmkt:ImpactOfSettlementOnTheFinancialPositionOfTheListedEntity></xbrli:xbrl>
