Place almonds in a food processor; process until finely ground.
Combine carrot, milk, and saffron in a small saucepan; bring to a boil, stirring occasionally. Reduce heat to medium-low; cook until most of milk evaporates (about 35 minutes), stirring frequently. Add ground almonds, sugars, and remaining ingredients. Cook on low heat 20 minutes or until mixture pulls away from sides of pan, stirring almost constantly.