Dasharatham movie is all about Rajiv Menon (Mohnalal) who is Born into riches and who is an alcoholic womanizer with absolutely no aim in life. With no parents to guide him and with the family business being run by a trusted manager Pillai (Karamana Janardanan Nair), Rajiv is free to waste his life and money on drinks and debauchery. A close friend Scariah (Nedumudi Venu) with his wife and children come over to stay at Rajiv’s palatial house for a week. Soon Rajiv gets attached to one of Scariah's children and decides that he wants to have a child of his own, but neither does he want to get married nor does he want to adopt a baby. Good friend, guide and philospher Dr. Hameed (Sukumaran) advises Rajiv to rent a womb. They come across a former football player Chandradas (Murali) who is in dire need of money for an operation, his wife Annie (Rekha) agrees to give birth to Rajiv’s child through artificial insemination. Both Charandas and Annie aren’t happy about the decision – it’s clearly a desperate solution to their financial needs.
At first Annie just wants to get over with the 9 month pregnancy period, handover the baby and move on with life. The usually rash and immature Rajiv is now a changed man, reading up books on pregnancy, child birth and making sure that Annie stays in an atmosphere that is cheerful, beautiful and is taken care of by nurses, provided with the best diet and so on to ensure the birth of a healthy and happy baby. He is completely taken up by the thought of having a child, the thought of finally having someone he can call his own. But by the time of the child’s birth Annie gets emotionally attached to the life that’s taking shape in her womb and refuses to part with the baby. How the two ultimately resolve their conflicting interests forms the climax of the film.