1.2.10

जानाम्यहं शेवधिरित्यनित्यं नह्यध्रुवैः प्राप्यते हि ध्रुवं तत्। ततो मया नचिकेतश्चितोऽग्निः अनित्यद्रव्यैः प्राप्तवानस्मि नित्यम् ॥१०॥

jānāmy ahaṁ śevadhir ity anityaṁ na hy adhruvaiḥ prāpyate hi dhruvaṁ tat। tato mayā naciketaś cito'gniḥ anitya-dravyaiḥ prāptavān asmi nityam ॥10॥

[जानामि (jānāmi) - I know; अहम् (aham) - I; शेवधिः (śevadhiḥ) - treasure; इति (iti) - thus; अ-नित्यम् (a-nityam) - the permnent 'a' syllable lord; न (na) - not; हि (hi) - indeed; अध्रुवैः (adhruvaiḥ) - by the unstable; प्राप्यते (prāpyate) - is attained; ध्रुवम् (dhruvam) - the stable; तत् (tat) - that; ततः (tataḥ) - therefore; मया (mayā) - by me; नचिकेतः (naciketaḥ) - Naciketa; चितः (citaḥ) - kindled; अग्निः (agniḥ) - the fire; अ-नित्यद्रव्यैः (a-nitya-dravyaiḥ) - permnent materials that refer to 'A' syllable lord; प्राप्तवान् (prāptavān) - have attained; अस्मि (asmi) - I am; नित्यम् (nityam) - the eternal;]

I know this permnent treasure to be the lord conveyed by syllable 'A'; for the stable is not attained through the unstable. Therefore, having kindled the Naciketa fire with permanent materials, I have attained the eternal lord conveyed by syllable 'A'.

Bhāṣya 1.2.10

Key to understand above passage is to split 'anityam' as 'a-nityam', the permanent eternal lord conveyed by syllable 'A'. 'anityadravyaiḥ' is to be split as 'a-nitya-dravyaiḥ', the permanent raw materials such as topics covered in Nachiketa Agni (sacrifice, charity, and austerity) that enable attainment of the lord conveyed by syllable 'A'.

आख्यं विष्ण्वाख्यं नित्यं शेवधिरिति जानामि। नित्यं आख्यविष्णुविषयैः द्रव्यैः मनादिभिः। आख्यनित्यविषयैः विष्ण्वाख्यनित्यविषयैः द्रव्यैः। नित्यं भगवन्तं प्राप्तवानस्मि। ध्रुवो भगवान्। अध्रुवैः तद्भक्तिवर्जितैः न प्राप्यते ॥१०॥

ākhyaṁ viṣṇv-ākhyaṁ nityaṁ śevadhir iti jānāmi। nityaṁ ākhya-viṣṇu-viṣayaiḥ dravyaiḥ manādi-bhiḥ। ākhya-nitya-viṣayaiḥ viṣṇv-ākhya-nitya-viṣayaiḥ dravyaiḥ। nityaṁ bhagavantaṁ prāptavān asmi। dhruvaḥ bhagavān। adhruvaiḥ tad-bhakti-varjitaiḥ na prāpyate ॥10॥

[आख्यम् (ākhyam) - conveyed by syllable 'A'; विष्ण्वाख्यम् (viṣṇv-ākhyam) - conveying lord Viṣṇu; नित्यम् (nityam) - eternal; शेवधिः (śevadhiḥ) - treasure; इति (iti) - thus; जानामि (jānāmi) - I know; नित्यम् (nityam) - by the eternal; आख्यविष्णुविषयैः (ākhya-viṣṇu-viṣayaiḥ) - relating to Viṣṇu conveyed by syllable 'A'; द्रव्यैः (dravyaiḥ) - with materials; मनादिभिः (mana-ādibhiḥ) - like mind and others; आख्यनित्यविषयैः (ākhya-nitya-viṣayaiḥ) - by materials concerning the eternal name; विष्ण्वाख्यनित्यविषयैः (viṣṇv-ākhya-nitya-viṣayaiḥ) - by materials relating to the eternally named Viṣṇu; द्रव्यैः (dravyaiḥ) - with substances; नित्यम् (nityam) - the eternal; भगवन्तम् (bhagavantaṁ) - the Lord; प्राप्तवान् (prāptavān) - I have attained; अस्मि (asmi) - I am; ध्रुवः (dhruvaḥ) - the stable one; भगवान् (bhagavān) - the Lord; अध्रुवैः (adhruvaiḥ) - by the unstable ones; तद्भक्तिवर्जितैः (tad-bhakti-varjitaiḥ) - devoid of His devotion; न (na) - not; प्राप्यते (prāpyate) - is attained;]

That which is conveyed by syllable 'A', conveys lord Vishnu; I know Him to be the eternal treasure. The permanent materials directed towards the lord Vishnu conveyed by syllable 'A' are mind and such others. Those materials concerning permanent topics conveyed by syllable 'A' are nothing but those permanent topics conveying lord Vishnu. The Lord is the stable one. He is not attained by the unstable who are devoid of His devotion.