ulagum ulagiRandha Uzhiyum oNkEzh
vilagu karungkadalum veRpum - ulaginil
senthIyum mArudhamum vAnum thirumAl than
pundhiyilAya puNarppu 

Meaning:

ulagum 				- All the worlds,
ulagu iRandha Uzhiyum 		- the time that is left after the worlds are destroyed,
oN kEzh vilagu karungkadalum 	- the beautiful, wavy, dark ocean,
veRpum 				- the mountains that support the world, and
sem thIyum 			- the red fire,
mArudhamum 			- the wind,
vAnum 				- and space
ulaginil 			- seen in the world,
pundhiyil Aya puNarppu 		- are all created by the wish
thirumAl than 			- of Sriman Narayana.

Vyakhyana Saram:
In the previous pasuram, Azhvar said that other than Him no one knows what's good for the jIvas. If He is the only one who knows, why is it necessary for Him to protect them? Azhvar replies - He is the creator of all, so He will not ignore them.