A pretty Sanskrit name, but people may want to think twice about using it in English speaking countries. Padma - pad - maxi pads. I don't know anyone who would want their name associated with feminine hygiene products.
This is a cute name. It makes me think of a nice, laid-back, fun-loving guy, and a serene, thoughtful, and beautiful girl. It's great either way. Oh, and it makes me think of Padma Maharassa, from the webcomic Friendly Hostility. He's the father of one of the two main characters, Fox, and he's a very eccentric man indeed.