Grind the soaked cashews with ½ cup water to form a smooth paste.
Heat coconut oil in a saucepan. Add the grated carrots and cook on medium-high heat for 7–8 minutes, stirring occasionally.
Add sugar and mix well. Continue cooking on medium heat until most of the moisture evaporates.
Stir in the cashew paste and cook for a couple of minutes.
Mix in the powdered cardamom and garnish with roasted nuts.