The Institute awards the following medals/awards to meritorious students:
- Director’s Merit List
- Chairperson’s Gold Medal for securing First Rank
- Director’s Gold Medal for securing Second Rank
- IIM Tiruchirappalli Gold Medal for securing Third Rank
- IIM Tiruchirappalli Gold Medal for First Rank among Women Students
- IIM Tiruchirappalli Gold Medal for Best All-Round Performance
- Leela Chandrasekhara Menon Cash Award for the Outstanding Lady Student of the Year