The film is narrated in text book format with every new link to the story is presented as a new chapter. The first chapter talks about four friends, Krishna Kumar, Anwar, Joby and Kannan, who are unemployed and in need of quick money. To make some money for Krishna Kumar's sister's wedding, they venture out for a risky adventure that will make them rich. It all works out well until the end when their plan goes all awry. The second chapter is about a long bus journey. Sethu, a middle-aged man, is on his way to the hospital, where his young son awaits a surgery and chemotherapy. Because he is carrying a huge sum of money for his young son's cancer treatment, Sethu is nervous and suspicious of his fellow passengers. Meanwhile, he strikes up a conversation with an old lady sitting next to him who reveals that she has a son who is in jail. In the third chapter, we see another group of six youngsters. Arun, Vinod aka Choonda, Kaanu and Jincy is heading for a journey to a hill station, to register a marriage - that of Shyam and Priya. When the group return to their car after stopping for a brief while, they find a dead body in it. The group disperses in panic. In the fourth and final chapter, we see an anxious lady, Annie waiting by her son's bedside in the hospital awaiting her husband's arrival. She is astonished when he arrives with the money, but refrains from taxing him with further questions. She does manage to convince him however that the money that he has brought in should better be left where it truly belongs. The final scenes explain how the different chapters are interlinked. Though some of the characters never meet, there is a link that connects them all.
A special screening of the film was held in the first week of December 2012. The film was appreciated by most of who attended the premiere, with directors Aashiq Abu and Sugeeth tweeting in favour of the film. The film released in theatres on 7 December.
Paresh C Palicha of Rediff.com stated, "The director succeeds in creating vivid characters and giving them believable motives for their actions so that they remain vivid in our memory. All said and done, Chapters shows promise."
Sify.com's reviewer gave the verdict as "Average" and said, "Chapters is an experiment, which can be appreciated only for its narrative style that is relatively new in this part of the globe."
Aabha Anoop of The Hindu stated, "A logical and well-knit script is what makes debutant director Sunil Ibrahim’s Chapters another notable venture in the Malayalam cinema scene today. Set somewhere in the High Ranges, it could be noted for its cinematography. All the actors have played their part well, though none deserves a special mention. Producer Shafeer Sait may be appreciated for his willingness to experiment. Music by Mejjo Joseph for Rafeeque Ahamed’s lyrics, however, does not score well. Chapters could be watched for the sheer novelty of presentation."
