अयम् this one, राक्षसेन्द्रस्य: Rakshasa king's, रावणस्य: Ravana's, प्रणिधिः spy, भवेत् may be, सः he, अनुप्रविशय: having found a way to enter, अस्मासु: to our place, भेदम् difference, कूर्यात् to create, संशयः doubt, न: no.

"This Rakshasa may be a spy who has found entry into our camp to create differences (among us). No doubt about it."