it is the sarvĕṣvaran (supreme being) himself who is existing as the body composed of the five elements —

being the antharāthmā of the whole universe which is highlighted by the pancha bhūthams (the five elements), having the whole universe as prakāra (attribute) —

ŏh the supreme being who is having the form of ocean which is surrounding this world! —

ŏh lord of all, who has a divine form similar to the ocean which is surrounding (earth) —

ŏh emperumān, who stood near mahābali to take the water as symbolic of taking alms! —

you are the antharāthmā (indwelling soul) for all these —

where you stand —