In plain words
The poet, of the Lord: So that the sword-bearing demons, mighty and fanged like swords, would perish, he made the mighty, bright mountain [Mandara] his churning staff, wound the mighty, bright serpent [Vāsuki] round it, and churned the sea till it was stirred up from its depths: he is the Lord who broke the tusks of the strong elephant [Kuvalayāpīḍa].