Complex sentence: The film was AVM's 162nd production and their first film after a five-year hiatus, their last production being "Minsara Kanavu" (1997), the release of which marked fifty years since their debut "Naam Iruvar" (1947).
Split into simpler sentences: The film was the 162nd production of AVM Productions, and their first film after a five-year hiatus. Their last production before the hiatus was "Minsara Kanavu" (1997), the release of which marked fifty years since its first production "Naam Iruvar" (1947).