चित्तनाशात् on account of the loss of the mental faculty, मे my, सर्वाण्येव all, इन्द्रियाणि sense organs, क्षीणस्नेहस्य with oil exhausted, दीपस्य like the lamp, संसक्ताः together, रश्मयः यथा like rays, विपद्यन्ते are giving way.

With the loss of my mental faculty, all the sense organs are giving way, like the rays of the lamp giving way together when the oil is exhausted.