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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>2026-10-19</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>2026-10-19</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_DevelopmentInRelationToProceedings"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">500710</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-19</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:StageOfTheLitigationIsConcludedOrDisputeIsResolvedAsPerSubPara8OfParaBAxis">in-capmkt:DevelopmentInRelationToProceedingsMember</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">2026-10-19</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainI">15:30:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:DateOfReport contextRef="MainI">2026-10-19</in-capmkt:DateOfReport><in-capmkt:StageOfDisclosureOfLitigationOrDispute contextRef="I_DevelopmentInRelationToProceedings">Development in relation to proceedings</in-capmkt:StageOfDisclosureOfLitigationOrDispute><in-capmkt:DetailsOfLitigationOrDisputeForWhichDisclosureIsBeingMade contextRef="I_DevelopmentInRelationToProceedings">Receipt of Appeal Order from the Karnataka GST Department</in-capmkt:DetailsOfLitigationOrDisputeForWhichDisclosureIsBeingMade><in-capmkt:DateOfOriginalLitigationDisclosure contextRef="I_DevelopmentInRelationToProceedings">2026-08-05</in-capmkt:DateOfOriginalLitigationDisclosure><in-capmkt:DetailsOfDevelopmentInRelationToTheExistingProceedings contextRef="I_DevelopmentInRelationToProceedings">The Company received a Show Cause Notice from Karnataka GST Department on 5th August 2026, for the period from April 2020 – March 2021 mentioning disallowance of input tax credit under u/s 74 of CGST/SGST Act, 2017 and carrying a demand aggregating to Rs.118,33,32,869/- (comprising Tax amounting to Rs. 40,08,66,201/-; Interest amounting to Rs. 38,17,70,313/-; and Penalty amounting to Rs.  40,06,96,355/-)
 
To that, the Company submitted its response along with the supporting documents within the given time limit.  
 
The Asst. Commissioner of Commercial Taxes, LGSTO LTU, Bengaluru, Karnataka GST Department, reviewed the said response and issued an Order dated 15th October 2026 (received by the Company on 19.10.2026 at 3:30 pm). The Demand amount as per the aforesaid Order is aggregating to Rs. 42,04,21,825/- (comprising Tax amounting to Rs. 14,06,89,554/-; Interest amounting to Rs. 13,90,42,717/-; and Penalty amounting to Rs. 14,06,89,554/-).
 
This Order is open for further submissions to the relevant authorities, and the Company is currently in the process of responding to the same within the indicated timeframe therein.</in-capmkt:DetailsOfDevelopmentInRelationToTheExistingProceedings><in-capmkt:LitigationAgainstParty contextRef="I_DevelopmentInRelationToProceedings">Company</in-capmkt:LitigationAgainstParty></xbrli:xbrl>
