महात्मनः great self, तस्य राघवस्य that Rama's, सुखम् comfort, वसतः while living, शरद्व्यपाये autumn over, इष्टः favourite season, हेमन्तऋतुः winter season, प्रवर्तत set in.

While the great self Rama lived happily there, autumn passed and dear winter set in. Lakshmana's description of nature at Panchavati to Rama -- Rama's reflections on Bharata's virtues.