Bramayugam ending explained: Is Thevan alive or dead?

Set in 17th-century South Malabar, the Malayalam horror film "Bramayugam" follows Thevan, and his friend Koran seeking refuge in a forest. However, their respite turns sinister when Koran falls in love and is killed by a woman. Thevan later encounters the sinister entity Chaathan. Despite a fiery showdown claiming Thevan's life, the horror continues as Chaathan assumes his identity.