adhibhūtam - the ever changing physical manifestation
kṣharaḥ - perishable
bhāvaḥ - nature
puruṣhaḥ - the cosmic personality of God, encompassing the material creation
cha - and
adhidaivatam - the Lord of the celestial gods
adhiyajñaḥ - the Lord of all sacrifices
aham - I
eva - certainly
atra - here
dehe - in the body
deha-bhṛitām - of the embodied
vara - O best
Translation
Adhibhuta—knowledge of the elements—pertains to My perishable nature, and the Purusha, or the Soul, is the Adhidaiva; I alone am the Adhiyajna here in this body, O best among the embodied.