National Honors
- Padma Shri in 2011
- Orde des Arts de Lettres (1999)
As a director
- Cannes Film Festival, nominated for Palme d'Or (Best Film): Swaham (1994)
- Cannes Film Festival, Caméra d'Or (Special Mention): Piravi (1989)
- London Film Festival, Outstanding Film: Piravi (1989)
- Locarno International Film Festival, Grand Jury Prize (Silver Leopard): Piravi (1989)
- 1999 Cannes Film Festival: Vanaprastham was screened in the Un Certain Regard section of the festival (1999)
National Film Award
- 2009 - Best Film - Kutty Srank
- 1999 - Best Film - Vanaprastham
- 1997 - Best Non-Feature Film - Sham's Vision
- 1995 - Special Jury Award - Swaham
- 1989 - Best Film - Piravi
- 1989 - Best Director - Piravi
- 1979 - Best Cinematographer (Black & White) - Thampu
Kerala State Film Awards
- 1999 - Best Director - Vanaprastham
- 1994 - Second Best Film - Swaham
- 1988 - Second Best Film - Piravi
- 1986 - Best Cinematographer - Onnumuthal Poojam Vare
- 1981 - Best Cinematographer - Estappan
- 1977 - Best Cinematographer - Kanchana Sita
As a Cinematographer
- Eastman Kodak Award for Excellence, Hawaii International Film Festival