Trending @Accenture; Am I underpaid ?

Compared to product company yes , in service based companies it is decent salary . Not underpaid.

But switch to startup / product

Don't think so, is it all fixed

Being adv app engg analyst with 2.1 years of exp in Azure, my current CTC is 8 LPA. So, I would suggest you are paid highly enough. Btw, in how much duration you got converted to Analyst? And what yearly and promotion hike % you got to get to 9.5 CTC

In mar I am about to complete 2 years how much CTC do I have after default promotion

You are not under paid