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<!--REG30 V1.0 (16-10-2025)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2025-08-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" 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.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2025-08-31.xsd"/><xbrli:context id="OneI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">532934</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-05-11</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">532934</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-05-11</xbrli:startDate><xbrli:endDate>2026-05-11</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="D_AmalgamatedEntity1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">532934</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-05-11</xbrli:startDate><xbrli:endDate>2026-05-11</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:AmalgamatedEntityAxis"><in-capmkt:AmalgamatedEntityDomain>AmalgamatedEntityDomain1</in-capmkt:AmalgamatedEntityDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_AmalgamatedEntity1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">532934</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-05-11</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:AmalgamatedEntityAxis"><in-capmkt:AmalgamatedEntityDomain>AmalgamatedEntityDomain1</in-capmkt:AmalgamatedEntityDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="D_AmalgamatedEntity2"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">532934</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-05-11</xbrli:startDate><xbrli:endDate>2026-05-11</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:AmalgamatedEntityAxis"><in-capmkt:AmalgamatedEntityDomain>AmalgamatedEntityDomain2</in-capmkt:AmalgamatedEntityDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_AmalgamatedEntity2"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">532934</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-05-11</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:AmalgamatedEntityAxis"><in-capmkt:AmalgamatedEntityDomain>AmalgamatedEntityDomain2</in-capmkt:AmalgamatedEntityDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><xbrli:unit id="shares"><xbrli:measure>xbrli:shares</xbrli:measure></xbrli:unit><in-capmkt:ScripCode contextRef="OneI">532934</in-capmkt:ScripCode><in-capmkt:NameOfTheCompany contextRef="OneI">PPAP Automotive Limited</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="OneI">PPAP</in-capmkt:NSESymbol><in-capmkt:MSEISymbol contextRef="OneI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="OneI">INE095I01015</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">New</in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:TypeOfEventOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">Amalgamation/ Merger</in-capmkt:TypeOfEventOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting contextRef="OneD">true</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfBoardMeeting contextRef="OneI">2026-05-11</in-capmkt:DateOfBoardMeeting><in-capmkt:EndTimeOfBoardMeeting contextRef="OneD">16:45:00</in-capmkt:EndTimeOfBoardMeeting><in-capmkt:DateOfReport contextRef="OneI">2026-05-11</in-capmkt:DateOfReport><in-capmkt:NameOfTheAmalgamatedEntity contextRef="I_AmalgamatedEntity1">Avinya Batteries Limited</in-capmkt:NameOfTheAmalgamatedEntity><in-capmkt:TypeOfAmalgamatedEntity contextRef="D_AmalgamatedEntity1">Transferor</in-capmkt:TypeOfAmalgamatedEntity><in-capmkt:RelationshipOfAmalgamatedEntityWithListedEntities contextRef="D_AmalgamatedEntity1">Subsidiary</in-capmkt:RelationshipOfAmalgamatedEntityWithListedEntities><in-capmkt:BriefDetailsOfTurnoverOrSizeOrOtherDetailsOfAmalgamatedEntity contextRef="I_AmalgamatedEntity1">14.46 Crore</in-capmkt:BriefDetailsOfTurnoverOrSizeOrOtherDetailsOfAmalgamatedEntity><in-capmkt:NumberOfSharesUnderPromoterAndPromoterGroupCategoryPreEvent contextRef="I_AmalgamatedEntity1" unitRef="shares" decimals="INF">13799235</in-capmkt:NumberOfSharesUnderPromoterAndPromoterGroupCategoryPreEvent><in-capmkt:PercentageOfSharesUnderPromoterAndPromoterGroupCategoryPreEvent contextRef="I_AmalgamatedEntity1" unitRef="pure" decimals="INF">1</in-capmkt:PercentageOfSharesUnderPromoterAndPromoterGroupCategoryPreEvent><in-capmkt:NumberOfSharesUnderPublicCategoryPreEvent contextRef="I_AmalgamatedEntity1" unitRef="shares" 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contextRef="I_AmalgamatedEntity1" unitRef="shares" decimals="INF">0</in-capmkt:NumberOfSharesUnderPromoterAndPromoterGroupCategoryPostEvent><in-capmkt:PercentageOfSharesUnderPromoterAndPromoterGroupCategoryPostEvent contextRef="I_AmalgamatedEntity1" unitRef="pure" decimals="INF">0</in-capmkt:PercentageOfSharesUnderPromoterAndPromoterGroupCategoryPostEvent><in-capmkt:NumberOfSharesUnderPublicCategoryPostEvent contextRef="I_AmalgamatedEntity1" unitRef="shares" decimals="INF">0</in-capmkt:NumberOfSharesUnderPublicCategoryPostEvent><in-capmkt:PercentageOfSharesUnderPublicCategoryPostEvent contextRef="I_AmalgamatedEntity1" unitRef="pure" decimals="INF">0</in-capmkt:PercentageOfSharesUnderPublicCategoryPostEvent><in-capmkt:NumberOfSharesUnderOtherCategoryPostEvent contextRef="I_AmalgamatedEntity1" unitRef="shares" decimals="INF">0</in-capmkt:NumberOfSharesUnderOtherCategoryPostEvent><in-capmkt:PercentageOfSharesUnderOtherCategoryPostEvent contextRef="I_AmalgamatedEntity1" unitRef="pure" decimals="INF">0</in-capmkt:PercentageOfSharesUnderOtherCategoryPostEvent><in-capmkt:TotalNumberOfSharesPostEvent contextRef="I_AmalgamatedEntity1" unitRef="shares" decimals="INF">0</in-capmkt:TotalNumberOfSharesPostEvent><in-capmkt:TotalPercentageOfSharesPostEvent contextRef="I_AmalgamatedEntity1" unitRef="pure" decimals="INF">0</in-capmkt:TotalPercentageOfSharesPostEvent><in-capmkt:NameOfTheAmalgamatedEntity contextRef="I_AmalgamatedEntity2">PPAP Automotive Limited</in-capmkt:NameOfTheAmalgamatedEntity><in-capmkt:TypeOfAmalgamatedEntity contextRef="D_AmalgamatedEntity2">Transferee</in-capmkt:TypeOfAmalgamatedEntity><in-capmkt:RelationshipOfAmalgamatedEntityWithListedEntities contextRef="D_AmalgamatedEntity2">Listed Entity (self)</in-capmkt:RelationshipOfAmalgamatedEntityWithListedEntities><in-capmkt:BriefDetailsOfTurnoverOrSizeOrOtherDetailsOfAmalgamatedEntity contextRef="I_AmalgamatedEntity2">536.29 Crores</in-capmkt:BriefDetailsOfTurnoverOrSizeOrOtherDetailsOfAmalgamatedEntity><in-capmkt:NumberOfSharesUnderPromoterAndPromoterGroupCategoryPreEvent contextRef="I_AmalgamatedEntity2" unitRef="shares" decimals="INF">9100867</in-capmkt:NumberOfSharesUnderPromoterAndPromoterGroupCategoryPreEvent><in-capmkt:PercentageOfSharesUnderPromoterAndPromoterGroupCategoryPreEvent contextRef="I_AmalgamatedEntity2" unitRef="pure" decimals="INF">0.6448</in-capmkt:PercentageOfSharesUnderPromoterAndPromoterGroupCategoryPreEvent><in-capmkt:NumberOfSharesUnderPublicCategoryPreEvent contextRef="I_AmalgamatedEntity2" unitRef="shares" decimals="INF">5014203</in-capmkt:NumberOfSharesUnderPublicCategoryPreEvent><in-capmkt:PercentageOfSharesUnderPublicCategoryPreEvent contextRef="I_AmalgamatedEntity2" unitRef="pure" decimals="INF">0.3552</in-capmkt:PercentageOfSharesUnderPublicCategoryPreEvent><in-capmkt:NumberOfSharesUnderOtherCategoryPreEvent contextRef="I_AmalgamatedEntity2" unitRef="shares" decimals="INF">0</in-capmkt:NumberOfSharesUnderOtherCategoryPreEvent><in-capmkt:PercentageOfSharesUnderOtherCategoryPreEvent contextRef="I_AmalgamatedEntity2" unitRef="pure" decimals="INF">0</in-capmkt:PercentageOfSharesUnderOtherCategoryPreEvent><in-capmkt:TotalNumberOfSharesPreEvent contextRef="I_AmalgamatedEntity2" unitRef="shares" decimals="INF">14115070</in-capmkt:TotalNumberOfSharesPreEvent><in-capmkt:TotalPercentageOfSharesPreEvent contextRef="I_AmalgamatedEntity2" unitRef="pure" decimals="INF">1</in-capmkt:TotalPercentageOfSharesPreEvent><in-capmkt:NumberOfSharesUnderPromoterAndPromoterGroupCategoryPostEvent contextRef="I_AmalgamatedEntity2" unitRef="shares" decimals="INF">9100867</in-capmkt:NumberOfSharesUnderPromoterAndPromoterGroupCategoryPostEvent><in-capmkt:PercentageOfSharesUnderPromoterAndPromoterGroupCategoryPostEvent contextRef="I_AmalgamatedEntity2" unitRef="pure" decimals="INF">0.6448</in-capmkt:PercentageOfSharesUnderPromoterAndPromoterGroupCategoryPostEvent><in-capmkt:NumberOfSharesUnderPublicCategoryPostEvent contextRef="I_AmalgamatedEntity2" unitRef="shares" decimals="INF">5014203</in-capmkt:NumberOfSharesUnderPublicCategoryPostEvent><in-capmkt:PercentageOfSharesUnderPublicCategoryPostEvent contextRef="I_AmalgamatedEntity2" unitRef="pure" decimals="INF">0.3552</in-capmkt:PercentageOfSharesUnderPublicCategoryPostEvent><in-capmkt:NumberOfSharesUnderOtherCategoryPostEvent contextRef="I_AmalgamatedEntity2" unitRef="shares" decimals="INF">0</in-capmkt:NumberOfSharesUnderOtherCategoryPostEvent><in-capmkt:PercentageOfSharesUnderOtherCategoryPostEvent contextRef="I_AmalgamatedEntity2" unitRef="pure" decimals="INF">0</in-capmkt:PercentageOfSharesUnderOtherCategoryPostEvent><in-capmkt:TotalNumberOfSharesPostEvent contextRef="I_AmalgamatedEntity2" unitRef="shares" decimals="INF">14115070</in-capmkt:TotalNumberOfSharesPostEvent><in-capmkt:TotalPercentageOfSharesPostEvent contextRef="I_AmalgamatedEntity2" unitRef="pure" decimals="INF">1</in-capmkt:TotalPercentageOfSharesPostEvent><in-capmkt:WhetherTheAmalgamationOrMergerWouldFallWithinRelatedPartyTransactions contextRef="OneD">false</in-capmkt:WhetherTheAmalgamationOrMergerWouldFallWithinRelatedPartyTransactions><in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesIncludingAssociateOrHoldingOrSubsidiaryOrDirectorOrKMPOrSMPAndItsRelativesHaveAnyInterestInTheEntityBeingAmalgamated contextRef="OneD">true</in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesIncludingAssociateOrHoldingOrSubsidiaryOrDirectorOrKMPOrSMPAndItsRelativesHaveAnyInterestInTheEntityBeingAmalgamated><in-capmkt:NatureOfInterestAndDetailsThereofForAmalgamationOrMergerEvent contextRef="OneI">The Transferor Company is wholly owned subsidiary of Transferee Company</in-capmkt:NatureOfInterestAndDetailsThereofForAmalgamationOrMergerEvent><in-capmkt:WhetherAmalgamationOrMergerIsDoneAtArmsLength contextRef="OneD">true</in-capmkt:WhetherAmalgamationOrMergerIsDoneAtArmsLength><in-capmkt:AreaOfBusinessOfTheEntitiesForAmalgamationOrMergerEvent contextRef="OneI">Avinya Batteries is in the business of manufacturing of high-quality lithium-ion battery packs, including Pouch Cell, Cylindrical Cell, and Prismatic Cell variants.   PPAP Automotive Limited is engaged in the manufacturing of automotive sealing systems and injection moulded parts.</in-capmkt:AreaOfBusinessOfTheEntitiesForAmalgamationOrMergerEvent><in-capmkt:RationaleForAmalgamationOrMerger contextRef="OneI">a)	Synergies arising out of operational and financial consolidation of respective businesses; 
b)	Focused approach towards customers as collective services shall be rendered by a single consolidated entity;
c)	Reduction of operating / administrative costs and improvement in profitability;
d)	Management of businesses more efficiently and effectively and for better co-ordination of business activities;
e)	Improved organizational capability and leadership, arising from pooling of financial and human capital in a single consolidated entity for effective treasury function and centralized management of funds to supplement future growth opportunities.
</in-capmkt:RationaleForAmalgamationOrMerger><in-capmkt:NatureOfConsiderationForAmalgamationOrMerger contextRef="OneD">Others</in-capmkt:NatureOfConsiderationForAmalgamationOrMerger><in-capmkt:DetailsOfConsiderationForAmalgamationOrMerger contextRef="OneI">Since the Transferor Company is a wholly owned subsidiary of the Transferee Company, no shares of the Transferee Company shall be allotted under the scheme of amalgamation in lieu or exchange of the shares of the Transferor Company.</in-capmkt:DetailsOfConsiderationForAmalgamationOrMerger><in-capmkt:BriefDetailsOfChangeInShareholdingPatternOfListedEntityForAmalgamationOrMerger contextRef="OneI">There would be no change in shareholding pattern of the Transferee Company (the listed entity).</in-capmkt:BriefDetailsOfChangeInShareholdingPatternOfListedEntityForAmalgamationOrMerger><in-capmkt:AnyOtherBriefSignificantInformationForAmalgamationOrMerger contextRef="OneI">No</in-capmkt:AnyOtherBriefSignificantInformationForAmalgamationOrMerger></xbrli:xbrl>
