<?xml version="1.0" encoding="UTF-8"?>
<!--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/NSESymbol">MBEL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-30</xbrli:instant></xbrli:period></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">MBEL</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">M &amp; B Engineering Limited</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">544470</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE08N601015</in-capmkt:ISIN><in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">Commencement or postponement (Sub-para 1-Para B)</in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">New</in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting contextRef="MainI">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting><in-capmkt:DateOfOccurrenceOfEventOrInformation contextRef="MainI">2026-10-26</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainI">11:00:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:DateOfReport contextRef="MainI">2026-10-30</in-capmkt:DateOfReport><in-capmkt:DisclosureForUnitOrDivisionOfTheCompany contextRef="MainI">Division</in-capmkt:DisclosureForUnitOrDivisionOfTheCompany><in-capmkt:DisclosureForCommencementOfCommercialProductionOrCommercialOperationsOfTheCompany contextRef="MainI">Commercial production</in-capmkt:DisclosureForCommencementOfCommercialProductionOrCommercialOperationsOfTheCompany><in-capmkt:NameOfUnitOrDivisionOfTheCompany contextRef="MainI">PEB manufacturing facility located at Sanand Plant</in-capmkt:NameOfUnitOrDivisionOfTheCompany><in-capmkt:DateOfCommencement contextRef="MainI">2026-10-26</in-capmkt:DateOfCommencement><in-capmkt:DetailsOfCommencement contextRef="MainI">we wish to inform
you that, the Company has commenced commercial production under Phase-I of the brownfield at its
PEB manufacturing facility located at Sanand, Gujarat with effect from 26th October, 2026.
The said expansion will augment the PEB manufacturing capacity by 20,000 MTPA, thereby
increasing the manufacturing capacity at the Sanand Plant from 72,000 MTPA to 92,000 MTPA and
the total PEB Capacity from 103800 MTPA to 123800 MTPA of the Company including both Sanand
and Cheyyar Plant.</in-capmkt:DetailsOfCommencement><in-capmkt:WhetherPriorIntimationOfDateOfCommencementOfCommercialProductionOrOperationsWasGiven contextRef="MainI">false</in-capmkt:WhetherPriorIntimationOfDateOfCommencementOfCommercialProductionOrOperationsWasGiven></xbrli:xbrl>