The music of the last drops [Updated]

During the grand final years' night at my college, the theme song for our batch (class of 2011) was released.
Now the music, lyrics and singing was done by a bunch of students from the same batch. As we all listened to it, the song floated above all our expectations. For an original song by a group of engineering undergrads, it was wonderful.

It is beautiful for the way the music and lyrics blend in. But what makes it special, what makes it the most played song in the campus at present, and what makes everyone listen to it again and again, is the elegant way in which the song summarizes the memories and thoughts of a batch, as it bids farewell to a campus. The song will no doubt appeal to any batch in their final days of college life.
Adding to the magic, it tunes a note of subtle, silent feeling of loss in even the extremists and misfits ;)

Here's the song, titled Peythozhiyathe

Update: Added a translation. See below! 

The song is in Malayalam. I thought of adding a translation, but there's a beauty in its lyrics which I think can hardly be replicated in a translation. If anyone can come up with a good translation, feel free to share it here.

Here is a translation of the song. Some of the lyrics are so well crafted that a translation cannot capture all its essence. Anyways:

Peythozhiyathe (It still drizzles)

Now we will come together in the shade,

Under the wings of our sparkling dreams.

The sound of waves from the mighty sea

Drizzles inside my mind.

<Music>

We'll hum to the rhythm of that rain

Come, be the tune of this song.

The song is sad as it goes with our heartbeats

And we'll hum it in silence.

As I fade away today,

There remain only my memories.

<Music>

As my first spring becomes

The echo within these walls (2)

We weave our dreams and sail

To a faraway shore.

We'll no more be in this love nest

Like the ever shining lights.

As I fade away today,

There remain only my memories.

<Music>

As the rain clouds thicken,

My mind is covered by them.

Time withered away like tears,

Desire never bloomed,

And I wander today with a thirst never quenched.

In this valley of life,

Silence will rain down as a sweet song.. (2)

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