महात्मना by that lord Siva, निर्दग्थस्य having burnt down totally, तस्य his, गात्रम् body, तत्र there, हतम् disappeared, देवेश्वरेण by the lord of devatas, क्रोधात् because of wrath, काम: Kama, अशरीर: disembodied, कृत: had been made.

Having been completely burnt down by Lord Siva, Kama's body was destroyed. Mighty angry, Siva, reduced Kama to a 'disembodied being.