धिन्विकृण्व्योर च

Operational rule vidhi

In presence of a सार्वधातुक प्रत्यय in the कर्तरि प्रयोग, the verbs धिन्व्, कृण्व् gets the 'उ' विकरणप्रत्यय.

Word by word (padaccheda)

Target धिन्वि- कृण्व्योः ṣaṣṭhī · dvivacanaWord अ Indeclinable च avyaya

Target Ṣaṣṭhī (6th case): names what gets replaced, "in place of X" (1.1.49 षष्ठी स्थानेयोगा).
Word Case not marked in the source data.
Indeclinable An avyaya such as च "and", वा "optionally", न "not".

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Full reading

धिन्वि-कृण्व्योः अ च

Pāṇini leaves out words that carry over from earlier sūtras. Expand to see the rule as a reader actually understands it.

Commentary

The affix उ comes after the roots धिन्व 'to please' and कृणिव 'to hurt', when a सार्वधातुक affix denoting the agent follows and in these verbs अ is the final substitute of the final इ।
The root धिन्व or धिन्वि belongs to the Bhuadi class. Thus धिन्व + उ + ति = धिन् + अ + उ + ति = धिन् + उ + ति 6.4.48 = धिनोति 'he pleases'. It might be asked, why there is no guna of the इ of धिन् by rule 7.3.86 which requires the base to be gunated before a sarvadhatuka or an ardhadhatuka affix. The answer is to be found in sutra 1.1.57; the substitute of अ which is a blank, is like the former occupant (sthanivat), and thus prevents guna.

Śrīśa Chandra Vasu, The Ashtadhyayi of Panini (1897), via ashtadhyayi.com.