Anandabhairavi depicts the life of Vasudeva Panikker, a Kathakali artist and his son.

Against his wishes, 'Cuba' Mukundan goes to Dubai to make good his father's alleged misappropriation of funds from the local cooperative bank. It is there that he learns the true meaning of the term 'working class' and realizes the irrelevance of the Communist movement back home.

Four childhood friends visit their village after many years to relive the old days. However, problems arise when one of them goes missing.

Born to rich parents, Majeed falls in love with his not-so-affluent neighbor Suhra. After her father's death, when Suhra struggles to make both ends meet, Majeed pleads with his father to sponsor her education. Refused, he wanders off to distant lands.

Maanukkuttan and Smitha lead a happy life after getting married to each other. But their marital life is put at stake due to their friends playing pranks on them.

A group of pilgrims travels from a border village in Kerala to Sabarimala to visit Lord Ayyappa's temple. Later, an atheist police constable joins them, after which unexpected events take place.