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<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2026-03-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Schedule_Of_Analysts_Or_Institutional_Investors_Meeting/2026-03-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/Schedule_Of_Analysts_Or_Institutional_Investors_Meeting/2026-03-31/in-capmkt-roles" 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/2026-03-31/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.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2026-03-31.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">509631</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-06</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">509631</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-06</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeetingAxis"><in-capmkt:IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeetingDomain>IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeetingDomain1</in-capmkt:IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeetingDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">HEG</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">HEG LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">509631</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE545A01024</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncement contextRef="MainI">New</in-capmkt:TypeOfAnnouncement><in-capmkt:PurposeOfDisclosure contextRef="MainI">Schedule of Analysts or Institutional Investors Meet</in-capmkt:PurposeOfDisclosure><in-capmkt:StageOfMeetingOrCallOrConferenceOrEvent contextRef="MainI">Intimation</in-capmkt:StageOfMeetingOrCallOrConferenceOrEvent><in-capmkt:DateOfReport contextRef="MainI">2026-08-06</in-capmkt:DateOfReport><in-capmkt:TypeOfMeetingForWhichIntimationIsGiven contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">Conference call</in-capmkt:TypeOfMeetingForWhichIntimationIsGiven><in-capmkt:DateOfMeetingOrCallOrConferenceOrEventForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">2026-08-19</in-capmkt:DateOfMeetingOrCallOrConferenceOrEventForIntimation><in-capmkt:TimeOfCommencementOfMeetingOrCallOrConferenceOrEventForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">09:00:00</in-capmkt:TimeOfCommencementOfMeetingOrCallOrConferenceOrEventForIntimation><in-capmkt:PlaceOfMeetingOrCallOrConferenceOrEventForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">Mumbai</in-capmkt:PlaceOfMeetingOrCallOrConferenceOrEventForIntimation><in-capmkt:NameOfTheFundOrCompanyOfAnalystOrInstitutionalInvestorWithWhomTheMeetingIsScheduledForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">Motilal Oswal 22nd Annual Global Investor Conference, 2026</in-capmkt:NameOfTheFundOrCompanyOfAnalystOrInstitutionalInvestorWithWhomTheMeetingIsScheduledForIntimation><in-capmkt:NameOfAnalystOrInstitutionalInvestorWithWhomTheMeetingIsScheduledForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">Shri Ravi Jhunjhunwala, Shri Riju Jhunjhunwala, Shri Puneet Anand, Shri Manish Gulati and Shri Salil Bawa</in-capmkt:NameOfAnalystOrInstitutionalInvestorWithWhomTheMeetingIsScheduledForIntimation><in-capmkt:DesignationOfPersonWithWhomTheMeetingIsScheduledForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">CMD &amp; CEO, Vice- Chairman, President &amp; Group CSO, Executive Director, President- Investor Relation</in-capmkt:DesignationOfPersonWithWhomTheMeetingIsScheduledForIntimation><in-capmkt:TypeOfMeetingOrCallOrConferenceOrEventForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">Group Meeting</in-capmkt:TypeOfMeetingOrCallOrConferenceOrEventForIntimation><in-capmkt:ModeOfMeetingOrCallOrConferenceOrEventForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">In-person/Physical</in-capmkt:ModeOfMeetingOrCallOrConferenceOrEventForIntimation><in-capmkt:AgendaOrReasonForMeetingOrCallOrConferenceOrEventForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">The discussions during the aforesaid meetings will be based on the Company's Q1 FY27 Investor Presentation, which has already been made available on the stock exchanges and on the Company's website.</in-capmkt:AgendaOrReasonForMeetingOrCallOrConferenceOrEventForIntimation><in-capmkt:WeblinkOfMeetingOrCallOrConferenceOrEventForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">Not applicable since it will be a physical meeting</in-capmkt:WeblinkOfMeetingOrCallOrConferenceOrEventForIntimation><in-capmkt:NameOfContactPersonForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">Shri Salil Bawa</in-capmkt:NameOfContactPersonForIntimation><in-capmkt:ContactDetailsOfContactPersonForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">President- Investor Relation</in-capmkt:ContactDetailsOfContactPersonForIntimation><in-capmkt:EmailIDOfContactPersonForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">salil.bawa@lnjbhilwara.com</in-capmkt:EmailIDOfContactPersonForIntimation><in-capmkt:WhetherIntimationOfMeetingIncludesPresentation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">false</in-capmkt:WhetherIntimationOfMeetingIncludesPresentation></xbrli:xbrl>
