This song incorporates the lyrics to a Sanskrit written Hindu mantra devoted to the gods, Shiva and Shakti. The English translation can be equated to about this:

[ Format- Sanskrit Devanagari (Sanskrit Romanization): English Translation ]

कर्पूरगौरं करुणावतार (Karpūragauraṁ Karuṇāvatāraṁ): Pure White like Camphor, an Incarnation of Compassion,
संसारसारम् भुजगेन्द्रहारम् (Sansārsāram Bhujagendrahāram): The Essence of Worldly Existence, Whose Garland is the King of Serpents,
सदावसन्तं हृदयारविन्दे (Sadāvasantaṁ Hṛdayāravinde): Always Dwelling inside the Lotus of the Heart.
भवं भवानीसहितं नमामि (Bhavaṁ Bhavānī Sahitaṁ Namāmi): I Bow to Shiva and Shakti Together.

The link to the Romanized Song can be found here: