Melt the butter and cool it. Add condensed milk, color and essence and beat it well. 

Sieve flour, powdered sugar and soda together. Add half of the sieved mixture to it and beat. Then add the remaining sieved mixture and aerated soda. Beat well. Keep aside. 

Take a cake tin and grease it with butter. Put butter paper according to its size and dust with flour. Arrange full pineapple rings in the center and halved pineapple rings on the sides, with a halved cherry in the center of each ring. Arrange split almonds in between the rings with the flat side touching the bottom. Keep the decorated tin aside. 

Heat sugar in a small pan (without water) on a low flame till it melts and becomes golden brown. Pour immediately on and around the pineapple. 

Now pour the batter into the decorated tin. Bake it in a preheated oven at 150C/300F for 30-40 minutes. If a knife inserted in the center comes out clean, remove from the oven after 5 minutes. Loosen sides and immediately turn onto a plate. Do not cool it in tin.