avyākṛtam - the unmanifest phase of material creation; ananta-ākhyam - known as Lord Ananta; āsanam - His personal seat; yat-adhiṣṭhitaḥ - upon which He is sitting; dharma-jñāna-ādibhiḥ - together with religion, knowledge and so on; yuktam - conjoined; sattvam - in the mode of goodness; padmam - His lotus; iha - thereupon; ucyate - is said.

Ananta, the Lord’s sitting place, is the unmanifest phase of material nature, and the Lord’s lotus throne is the mode of goodness, endowed with religion and knowledge.