Grate the mawa and add to a wide nonstick frying pan. Cook on medium-low heat for 2 minutes or until the mawa starts to melt.
Add sugar and mix well. Cook as the mixture starts to bubble and the fats start to separate. Continue cooking for a total of 8 to 10 minutes or until the mixture starts to leave the sides of the pan and starts to thicken. Turn the heat off and add the cocoa powder. Mix well.
Take out the mixture in a bowl and allow to cool for 10 to 15 minutes.
Lightly grease the Modak Mould with ghee. Make balls using about 2 teaspoons of Mawa dough and place them in the Mould. Close the Mould and push the dough from the bottom opening of the Mould making sure the dough is completely filling the Modak shape and remove any excess dough that may be on the outside of the Mould.
Gently open the Modak Mould and you will have the Modak shaped beautifully in the center of each indent. Remove any excess that is around the sides of the Modak shape using a small pointy spoon or a butter knife.
Carefully take out the Modak on a serving plate. Continue to shape Modak with the remaining dough.
How to Make Chocolate Peda
If you do not have a Modak Mould, simply shape the dough like Pedas. Take a tablespoon of dough and roll it on the palm of your hands to make a round ball. Gently press the ball to form a thick disc.
Using the back of a clean highlighter make an indent in the middle of the Peda.
Garnish the peda with sliced nuts if you like.
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Notes
Mawa - Frozen Mawa is readily available in the freezer aisle at Indian grocery stores. Make sure to buy one with no additives. The Vadilal brand has the best Mawa with only milk and cream as ingredients. It has a grainy texture and can be easily crumbled by hand after it has been thawed. Make sure to check the date on the package for freshness.
Thaw the Mawa as per the package instructions. Do not microwave it on high heat.
Do not overcook the dough, this way the Modak (or Peda) will not become chewy.
Add the cocoa powder after you have turned off the heat and immediately take out the mixture in a bowl to prevent the cocoa powder from burning.