A person in full consciousness of Me, knowing Me to be the ultimate beneficiary of all sacrifices and austerities, the Supreme Lord of all planets and demigods, and the benefactor and well-wisher of all living entities, attains peace from the pangs of material miseries.
the beneficiary
of sacrifices
and penances and austerities
of all planets and the demigods thereof
the Supreme Lord
the benefactor
of all
the living entities
thus knowing
Me (Lord Krsna)
relief from material pangs
one achieves.