You want to call the executable, then call the .kix script.

Code:

@echo off
REM Use of the syntax %0\..\ is discussed in Knowledge Base article Q121387.
@echo on
%0\..\kix32.exe %0\..\kixtart.kix


Alternatively, I've seen it recommended to use the following syntax for BATch file logon script calls.
Code:
 CALL %LOGONSERVER%\NETLOGON\kix32.exe %LOGONSERVER%\NETLOGON\kixtart.kix /f 


I don't know if there is a benefit to using either one, but they both work in my environment.
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