samkiirtana: mElukovayya
raagam: bauLi
taaLam: jhampe (12-1-12)

Conventions:
Hyphenated words go well only if uttered together.
Number indicates repetition of that stanza or phrase.
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pallavi:
melukovayya mammeluko raama

(wake up and rule us, O Rama)

anupallavi:
melaina siitaa-sameta naa-bhaagyamaa

(O my wealth, beneficial one and associate of sita)

charaNams:
naaradaadulu ninnu kori nii-mahimala-
vvaarigaa paaduchunnaaripuDu tela-
vaaragaa-vachchinadi Srii-raama navaniita-
kShiiramulu baagugaa-naaragimpanu niivu     (meluko)

(Narada and the rest, desiring you, are now singing your glories 
 in the form of fluid poems.
 Daylight has almost arrived. 
 O Sri Rama, to have butter and milk well,  (wake up!))

phaNiSayana animiSha-ramaNuluuDigamu-seya
aNakuvaga ninDaaru praNuti-jeSeru
maNimayaabharaNulau aNimaaduliDu diipa-
maNulu telupAyenu taraNi-vamSa vara-tilaka  (meluko)

(O serpent-reclining one, angel-women ready to serve you,
 are doing prayers to you brimming with humility.
 the lustre-jewels radiated by the jewel-bedecked goddesses of yogic powers
 (standing by your bedside) have become white, O best jewel of the Sun clan!)

raajaraajeSvara bharaajamukha saaketa-
raaja sadguNa tyaagaraaja-nuta-charaNa    (2)
saujanya vibudhagaNa-raajaadulella ninu
puujimpa gaachinaarii-jagamu paalimpa      (meluko)

(O Lord of kings of kings!, O moon-faced one, O ayodhya-king!
 O good-qualitied one whose feet are worshipped by tyaagaraja,
 kings ruling good people and various wise people and others 
 are waiting to worship you. To rule this Universe,  (wake up))

Word Meanings:
meluko = wake up
mammu+eluko = us + rule/take care of
melaina = beneficial
siitaa sameta = including sita
naa bhaagyamaa = O my wealth!

ninnu kori = desiring you
mahimalu+avvaarigaa = glories+in a stream (metre)
paaDuchunnaaru+ipuDu = are singing now.
telavaaragaa = daylight
vachchinadi = has almost come
navaniita kShiiramulu = butter and milk
aaragimpanu = to eat/drink/have
baagugaa = well
niivu = you

phaNi = serpent
Sayana = having as bed
animiSha = those that never close eyelids i.e., devata
    (devatas are supposed to never need to flicker eyelids like we need to)
ramaNulu = (devata) women
seya = doing
uuDigamu = servant work
aNakuvaga = with humility
ninDaaru = oozing with (full of) i.e., filled to the brim with humility
cheseru = did
praNuti = praying

diipa-maNulu = jewels of lustre
iDu = radiated by
aNimaadulu = goddesses of the aShTa-yoga-siddhis (8 yogic powers)
maNimaya+aabharaNulau = bedecked with jewel-studded ornaments,
           There are 8 yogic powers that can be obtained by anyone through 
           spiritual practice.
           Here are some of them (I don't know the rest)
           aNima - ability to become as small as an aNu i.e., atom
           garima - ability to increase weight immensely
           laghima - ability to become extremely light (weightless)
telupaayenu = became white (in the presence of rAma).
taraNi vamSa = the fast-moving one i.e., Sun's clan
vara tilaka = best ornament/forehead-mark (i.e., the best one among those 
           worthy to be shown off/boasted about in the Sun's clan)

raajaraajeSvara = Lord of the kings of kings.
bharaaja-mukha = (not sure), moon-faced
saaketa-raaja = king of saaketas
sa-keta = having the same intention. The people of ayodhya were probably called 
          saaketas because apparently visitors to ayodhya never found its
          citizens differing in opinion with each other in anything :-)
          i.e., they were together in every opinion, no clash of egos.
charaNa = feet
tyaagaraaja nuta = worshipped by tyaagaraaja
raajaadulu+ella = all kings and others
saujanya = of sujanas i.e., good people
vi-budha-gaNa = and of various(vi-) groups(gaNa) of wise people(budha)
ninu poojimpa = to worship you
gaachinaaru = waiting
paalimpa = to rule
ii+jagamu = this Universe.