A past that haunts, a present that shocks (Photo: Merry Christmas/Tips Films and Matchbox Pictures)

Merry Christmas Ending Explained: Twists, Deception, and a Chilling Finale

A chance encounter turns into a deadly mystery.

Waiting a whole year for Christmas feels like forever, but Netflix has now brought a new festive movie from India to keep audiences engaged. Unlike the usual holiday-themed releases on the platform, Merry Christmas delivers something unexpected, despite what its cheerful title might suggest.

Director Sriram Raghavan takes an unconventional approach by blending noir-inspired suspense with the Christmas season. It may not be the usual choice for a festive film, but it is one that has certainly paid off.

Love, lies, and a body on Christmas Eve (Photo: Merry Christmas/Tips Films and Matchbox Pictures)

Merry Christmas premiered in India earlier this year to widespread praise—despite arriving in January, which isn’t typically when holiday films hit theatres. Now, global audiences have the chance to witness what made this film such a talked-about release.

A Story Inspired by a French Thriller

Drawing from Frédéric Dard’s French novel Le Monte-charge (Bird in a Cage), this Hitchcock-style thriller takes off when a man and a woman cross paths by chance—an element often seen in classic suspense films.

Albert (Vijay Sethupathi) and Maria (Katrina Kaif), who is already married, form an intriguing connection that quickly turns complicated. As they grow closer, one fateful night leads them to Maria’s apartment, where they stumble upon her husband Jerome’s lifeless body.

Albert has a troubled past—he recently regained his freedom after serving time for killing his wife. However, he is not the only person who could be linked to Jerome’s apparent suicide.

And yes, this entire chain of events begins on Christmas Eve, giving more meaning to the film’s title than one might initially assume.

How Did Jerome Die?

As the story nears its climax, Albert discovers something unsettling—Maria had secretly created an identical replica of her apartment, matching every detail of the one where Jerome was found dead.

His instincts tell him that something isn’t right, and his suspicions are soon confirmed when Maria admits the truth: Jerome did not take his own life. She murdered him. Maria’s plan was meticulously crafted.

She laced his drink with drugs before making use of the two apartments—her real one and the replica—to move unnoticed and kill him quickly. This setup allowed her to create a perfect alibi, ensuring no one could place her at the scene when Jerome died.

Despite uncovering the truth, Albert’s feelings for Maria cloud his judgment. Instead of handing her over to the authorities, he chooses to help her. Together, they come up with a plan to erase all traces of the crime so she can escape punishment, and they can start a new life together.

The plan involves burning down the replica apartment and destroying all incriminating evidence, including a wallet that belongs to Maria’s neighbor, Ronnie. However, just as they start setting things in motion, Albert’s name surfaces in the murder investigation, drawing unwanted attention from the police.

Given his history, authorities are quick to suspect him and bring him in for questioning.

The Wallet That Changed Everything

Before his arrest, Ronnie had already reported to the police that his wallet had mysteriously vanished on the same night Jerome died. This led investigators to believe that a burglar might have broken into the building, stolen the wallet and killed Jerome in the process.

Hitchcock vibes with a holiday twist (Photo: Merry Christmas/Tips Films and Matchbox Pictures)

With this theory in mind, the police start searching for the missing wallet, unaware that Albert has it. He had intended to discreetly dispose of the wallet by placing it in a ‘Lost & Found’ box, but before he could do so, the police intercept him, taking him in before he gets the chance to get rid of the evidence.

Realizing that Maria is the true murderer, Albert makes a selfless decision. Rather than expose her, he takes responsibility for the crime himself, ensuring that she walks free. To cement his confession, he presents Ronnie’s wallet as proof, effectively sealing his fate.

In a final act of devotion, he gives Maria his cherished ring, a symbolic declaration of his unwavering love, before heading back to the prison he had once left behind.

A Festive Film with a Darker Tone

As the film wraps up, it appears that Albert’s sacrifice has allowed Maria to go on with her life, now free to raise her daughter, Annie, without the weight of Jerome’s death hanging over her. Whether Albert and Maria will maintain any connection while he remains behind bars is left uncertain.

What is clear, however, is that the true killer remains at large, which casts a much darker shadow over what initially seemed like a holiday film.

This isn’t the feel-good Christmas story audiences might expect from a Netflix release, but by this time of the year, any festive content is welcome—no matter how unconventional. After all, who says Christmas cheer has to follow the rules?