You are the creator of the creators of the universe, and I am only the creation of Brahma. You are the cause of all the entities (sat) created within the universe, and Brahma and other creators of the universes are not the cause. Brahma. They are creators only n the sense of secondary creators. Of destroyers you are the destroyer (kala), capable of doing it (isa). I however am to be destroyed by the destroyer. Among all atmas you are the supreme atma. I am one jiva.

Because you are the prāṇa, ojas, and bala of all beings you are the creator of all creators of the universe. Because you pervade the jīvas (viṣṇum) you are the root svarūpa (ātmā) of the ātmā. Because you pervade all of creation (samaṣṭi) as Garbhodakaśāhī (purāṇa-puruṣam) you are called īśaḥ. Because you are in control of prakṛti (prabha-viṣṇum) and because you are in control of all the spiritual realms (adhīśvaram) you are the subduer of subduers. Para ātmā means the root svarūpa. Or in the previous verse, the five descriptive elements are further explained. Since (hi) you are the instigator of dull, almost dead matter such as sūtra and ahaṅkāra (viśva-sṛjām), you are the creator of Brahmā and other created beings (sṛṣṭānām) and you are the material cause--upādāna (yac ca) known as Garbhodakaśāyī with the lotus coming from his navel. And because of this you are the instigator (kālaḥ) of all instigators (kalayatām) within each of many universes. Because of such influence you are the supreme controller (para īśaḥ). And because of this you are the supreme source (ātmā), Svayam Bhagavān, of all jīvas and other forms of the Lord (ātmānam).

You alone (hi) are the creator of the universe, of Brahmā or the elements. You are the cause (sat) of all creations. You are time among controllers (kalayatām). Thus you are the supreme Lord. Tathā means all this. Thus you are the ātmā or antaryāmī of all jīvas.