समेत्य समहेन्द्रा श्ष भयान्मन्त्र प्रचक्रिरे शरण्यं शरणं देव॑ नारायणमजं विभुम्
sametya saha-indrāś ca bhayān mantraṁ pracakrire | śaraṇyaṁ śaraṇaṁ devaṁ nārāyaṇam ajaṁ vibhum ||
Gathering together, and even Indra and the other gods—alarmed by fear—devised a sacred plan. They took refuge in Nārāyaṇa, the divine protector, the unborn and all-pervading Lord, as their ultimate shelter.
लोगश उवाच
When even the gods are overcome by fear, the highest remedy is śaraṇāgati—taking refuge in the supreme protector. The verse emphasizes Nārāyaṇa as the unborn, all-pervading source of security and right order.
Indra and the other gods, troubled by a fearful situation, assemble and formulate a course of action. Their decisive step is to seek protection and guidance from Nārāyaṇa, acknowledging him as the ultimate refuge.