We report the results of our studies on the optical and thermal properties of binary mixture of two compounds viz., berberine and alizarin dye. The mixture shows a very interesting co-existent biphasic region of nematic N + I and smectic C + I phases, sequentially when the specimen is cooled from its isotropic phase respectively at different concentrations of Alizarin dye in berberine molecule. The temperature variations of optical anisotropy, optical textures, and electrical conductivity have also been discussed. Aggregated molecular size has been confirmed by X-ray studies.