<?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">RELAXO</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-11-13</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_AtTheTimeOfInstitutingScheme"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">RELAXO</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-11-13</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:StageOfOptionsToPurchaseSecuritiesAsPerSubPara10OfParaBAxis">in-capmkt:AtTheTimeOfInstitutingSchemeMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">RELAXO</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">RELAXO FOOTWEARS LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">530517</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE131B01039</in-capmkt:ISIN><in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">Options to purchase securities ESOPS (Sub-para 10-Para B)</in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">New</in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting contextRef="MainI">true</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting><in-capmkt:DateOfBoardMeeting contextRef="MainI">2026-11-13</in-capmkt:DateOfBoardMeeting><in-capmkt:StartTimeOfTheMeeting contextRef="MainI">12:00:00</in-capmkt:StartTimeOfTheMeeting><in-capmkt:EndTimeOfTheMeeting contextRef="MainI">16:20:00</in-capmkt:EndTimeOfTheMeeting><in-capmkt:RemarksForWebsiteDissemination contextRef="MainI">The Company has granted 14,700 (Fourteen Thousand Seven Hundred) stock options to eligible employees under the ESOP Scheme 2014. &lt;br /&gt; 
 &lt;br /&gt; 
Since no specific option relating to the grant of ESOPs is available in the field for disclosure, we have selected the option “At the time of instituting the scheme” for the purpose of filing the disclosure.</in-capmkt:RemarksForWebsiteDissemination><in-capmkt:DateOfReport contextRef="MainI">2026-11-13</in-capmkt:DateOfReport><in-capmkt:StageOfDisclosureOfOptionsToPurchaseSecurities contextRef="I_AtTheTimeOfInstitutingScheme">At the time of instituting the scheme</in-capmkt:StageOfDisclosureOfOptionsToPurchaseSecurities><in-capmkt:BriefDetailsOfOptionsGranted contextRef="I_AtTheTimeOfInstitutingScheme">14,700 (Fourteen Thousand Seven Hundred Only) options have been granted to eligible employees under the ESOP Scheme 2014.</in-capmkt:BriefDetailsOfOptionsGranted><in-capmkt:WhetherTheSchemeIsInTermsOfSEBISBEBRegulations2021 contextRef="I_AtTheTimeOfInstitutingScheme">false</in-capmkt:WhetherTheSchemeIsInTermsOfSEBISBEBRegulations2021><in-capmkt:DetailsOfSharesCoveredByOptions contextRef="I_AtTheTimeOfInstitutingScheme">14,700  equity shares (each stock option convertible into 1 equity share of face value of Re. 1).</in-capmkt:DetailsOfSharesCoveredByOptions><in-capmkt:PricingFormulaForOptions contextRef="I_AtTheTimeOfInstitutingScheme">The exercise price would be the latest available closing price prior to the date of the meeting of the Nomination and Remuneration Committee in which options are granted, on the stock exchange on which the shares of the Company are listed. If the shares are listed on more than one stock exchange, then the stock exchange where there is highest trading volume on the said date shall be considered.</in-capmkt:PricingFormulaForOptions><in-capmkt:DetailsOfTimeWithinWhichOptionMayBeExercised contextRef="I_AtTheTimeOfInstitutingScheme">All vested options shall be exercisable within a maximum period of 4 (Four) years from the date of vesting of the respective Options.</in-capmkt:DetailsOfTimeWithinWhichOptionMayBeExercised><in-capmkt:BriefDetailsOfSignificantTermsOfOptions contextRef="I_AtTheTimeOfInstitutingScheme">The ESOP 2014 is administered by the Nomination and Remuneration committee of the Board of Directors of the Company.

The grant of options is based upon the eligibility criteria mentioned in the Scheme.</in-capmkt:BriefDetailsOfSignificantTermsOfOptions><in-capmkt:DilutedEarningsPerSharePursuantToIssueOfEquitySharesOnExerciseOfOptions contextRef="I_AtTheTimeOfInstitutingScheme">Not Applicable.</in-capmkt:DilutedEarningsPerSharePursuantToIssueOfEquitySharesOnExerciseOfOptions></xbrli:xbrl>
