Composite flat membranes were prepared using a dry uniaxial pressing process. The effect of the sintering temperature (850–950 °C) and smectite proportion (10–50 wt.%) on membrane properties, such as microstructure, mechanical strength, water permeability, and treatment performances, was explored. It was observed that increasing the sintering temperature and adding higher amounts of smectite increased the mechanical strength and shrinkage. Therefore, 850 °C was chosen as the optimum sintering temperature because the composite membranes had a very low shrinkage that did not exceed 5% with high mechanical strength, above 23 MPa. The study of smectite addition (10–50 wt.%) showed that the pore size and water permeability were significantly reduced from 0.98 to 0.75 µm and from 623 to 371 L·h−1·m−2·bar−1, respectively. Furthermore, the application of the used membranes in the treatment of indigo blue (IB) solutions exhibited an almost total turbidity removal. While the removal of color and COD decreased from 95% to 76%, respectively, they decreased from 95% to 52% when the amount of smectite increased. To verify the treated water’s low toxicity, a germination test was performed. It has been shown that the total germination of linseed grains irrigated by MS10-Z90 membrane permeate was identical to that irrigated with distilled water. Finally, based on its promising properties, its excellent separation efficiency, and its low energy consumption, the MS10-Z90 (10 wt.% smectite and 90 wt.% zeolite) sintered at 850 °C could be recommended for the treatment of colored industrial wastewater.