Soak almonds in warm water for 4-5 hours. Remove skin and grate. Keep aside.
In a bowl take milk powder and add about 150 ml milk, slowly stirring. Dissolve all solids.
Place a deep skillet (Kadahi) on medium heat and put about 250 ml milk and add grated carrots. Add half the sugar. Stir until all the milk evaporates. Add the powder milk solution of step 2 and cardamom powder and half of the almonds powder. Again stir until all the milk gets evaporated. Stir well so that nothing sticks at the bottom or at the sides of the skillet. Stir until the color turns to brown. Switch off the stove and add the remaining sugar. Mix well.
Garnish with remaining grated almonds.
Serve warm or chilled.
The method can be quickened by making khoya or mawa in advance and use it in palce of milk powder and milk.
Carrot Halwa (Gajar Halwa) 
