Take a deep non-stick pan and boil the milk by keeping aside 1 cup from it. Scrap the milk that sticks to the side of the pan and boil till it reduces slightly.
Mix the milk powder and the coconut powder to the kept aside milk to a smooth consistency. Add this mixture to the boiling milk little by little. Let it simmer for few minutes.
Add sugar and cardamom powder and mix it till the milk reduces further. When the milk mixture thickens sufficiently, take it from heat and let it cool.
Pour the mixture into Kulfi moulds or any container of your choice and place it in the freezer to set completely. Once it is set, demould and serve immediately.