He has written over 26 Malayalam plays, many adapted from classical Sanskrit drama and Shakespeare, notably Kalidasa's Vikramorvasiyam (1981, 1996), Shakuntalam (1982), Bhasa's Madhyamavyayogam (1979), Karnabharam (1984, 2001), Uru Bhangam (1988), Swapnavasavadattam, and Dootavakyam (1996).

[2][3] He was the founder – director of theatre troupe, Sopanam, which led to the foundation of Bhashabharati: Centre for Performing Arts, Training and Research, in Trivandrum.

His family name is Chalayil and he was a nephew of Sardar Kavalam Madhava Panikkar and a cousin of Dr. K. Ayyappa Panicker, a Malayalam poet.

The Village Voice said: "the haunting pungency of a rich Asian folk-theatre tradition shines through every stylized gesture.

"[8] Erin B. Mee devotes an entire chapter of her book Theatre of Roots to Panikkar's work.

Kavalam Harikrishnan, the elder son, served as Bhasabharathi's Chief contact person before he died of cancer in October 2009.

[16] He has won Kerala State Film Award for Best Lyrics twice, in 1978 for Vadakakkoru Hridayam and in 1982 for Marmaram, and the Kalidas Samman by the Government of Madhya Pradesh in (1994–1995).