Synonyms:

tattva-vit–the knower of the Absolute Truth; tu–but; maha-baho–O mighty-armed one; guna-karma–works under material influence; vibhagayoh–differences; gunah–senses; gunesu–in sense gratification; vartante–being engaged; iti–thus; matva–thinking; na–never; sajjate–becomes attached.

Translation:

One who is in knowledge of the Absolute Truth, O mighty-armed, does not engage himself in the senses and sense gratification, knowing well the differences between work in devotion and work for fruitive results.