Valsalyam tells the story of a brother who lived for his family. After the death of his father Meledathu Raghavan Nair spent his entire life to teach his brother Vijayakumaran Nair and family. His brother becomes an advocate and marries a rich girl who was the daughter of his senior advocate. The marriage of Raghavan Nair’s and Vijayakumaran Nair is fixed and Vijayakumaran Nair had agreed to give the money required for this marriage. However because of the influence of his wife, he says he cannot give the money. Raghavan Nair had no choice other than selling his share of the land for his sisters marriage. He also moves to a different home after her marriage. By this time Vijayakumaran Nair realizes his mistake and feel sorry about his behavior.
Vaalsalyam was a Vishu release. Upon release the film become a block buster. It is one of the biggest family blockbuster movie in the history of Malayalam industry. It ran for more than 150 days in major centers.It ran 200 days in 3 centers and 250 in 2 centers.It completed 275 days in a theater in Thalassery (Dharma movies). It was also one of the biggest grosser of that year.