<?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/ScripCode">524164</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-09</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_CapacityAddition"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">524164</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-09</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">IOLCP</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">IOL Chemicals and Pharmaceuticals Limited</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">524164</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE485C01029</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">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting><in-capmkt:DateOfOccurrenceOfEventOrInformation contextRef="MainI">2026-09-09</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainI">14:30:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:DateOfReport contextRef="MainI">2026-09-09</in-capmkt:DateOfReport><in-capmkt:ExistingCapacityOfProjectOrPlant contextRef="MainI">12000 MTPA</in-capmkt:ExistingCapacityOfProjectOrPlant><in-capmkt:ExistingCapacityUtilizationByProjectOrPlant contextRef="MainI">95%</in-capmkt:ExistingCapacityUtilizationByProjectOrPlant><in-capmkt:ProposedCapacityAdditionInProjectOrPlant contextRef="MainI">6000 MTPA</in-capmkt:ProposedCapacityAdditionInProjectOrPlant><in-capmkt:PeriodWithinWhichCapacityIsToBeAdded contextRef="MainI">Expected to be commercialized by December 2027</in-capmkt:PeriodWithinWhichCapacityIsToBeAdded><in-capmkt:InvestmentRequiredForProposedCapacityAddition contextRef="MainI" unitRef="INR" decimals="0">3500000000</in-capmkt:InvestmentRequiredForProposedCapacityAddition><in-capmkt:ModeOfFinancingForCapacityAddition contextRef="MainI">Internal Accruals</in-capmkt:ModeOfFinancingForCapacityAddition><in-capmkt:RationaleForCapacityAddition contextRef="MainI">The capacity expansion is being undertaken to address the growing global demand for Ibuprofen and reinforce the Company’s established position as a leading global manufacturer of Ibuprofen. The expansion is also aligned with the ongoing business development and customer engagements across various international markets, reflecting increasing opportunities for the Company’s Ibuprofen business. Supported by its backward-integrated manufacturing platform, established global customer base and proven manufacturing capabilities, the additional capacity will enhance the Company’s ability to meet evolving customer requirements, strengthen supply reliability and support long-term growth in the Ibuprofen business</in-capmkt:RationaleForCapacityAddition></xbrli:xbrl>
