Grate the Carrots manually or in a food processor. Make sure they are string like, not absolutely finely grated.
Take a heavy bottom pan and heat the ghee in it and add the grated carrots in it.
Toss them gently and let them fry for 4-5 minutes. You will see the aroma changes and the colour darkens as the carrots begin to caramelize.
Now, add the milk and allow it to simmer for next 45-50 minutes. Give it an occasional stir so that it doesn't boil over.
Once the milk has condensed completely, add the Cardamom powder and sugar.
As the sugar melts you would notice release of some water. Let them evaporate completely as the sugar caramelizes and gives the dark reddish-brown colour to the halwa.
Once it dries, turn of the heat. Add the sliced almonds and mix. Serve hot and fresh or cold.