It represents an action just competed. In Malayalam, the auxiliary verb ‘to finish’ is used to form present participle. If you are familiar with Spanish, the use of ‘acabar de’ is similar to this. The general form is
simple past + kazhinju (simple past of kazhiyuka – to finish)
Nján kazhichu kazhinju
I have eaten.
Some verbs like to go, to come, to enter use the auxiliary verb undákuka to form present participle
Avan vaňňu ittu undë
He has come.