tvam - you (Varuṇa); loka-pālaḥ - guardian of the planet; adhipatiḥ - a ruler; bṛhat-śravāḥ - of wide fame; vīrya - the power; apahaḥ - diminished; durmada - of the proud; vīra-māninām - thinking themselves very big heroes; vijitya - having conquered; loke - in the world; akhila - all; daitya - the demons; dānavān - the Dānavas; yat - whence; rāja-sūyena - with a Rājasūya sacrifice; purā - formerly; ayajat - worshiped; prabho - O lord.

You are the guardian of an entire sphere and a ruler of wide fame. Having crushed the might of arrogant and conceited warriors and having conquered all the Daityas and Dānavas in the world, you once performed a Rājasūya sacrifice to the Lord.