This report focuses on the financial position and business model of the Grains Research and Development Corporation (GRDC) for the fiscal year 2023-2024. It has a central position in furthering the Australian agricultural industry, especially by improving the productivity and profitability of grain growers. As a key Research, Development, and Extension (RD&E) investor, GRDC is instrumental in promoting innovation in farming practices, biosecurity, and sustainable agricultural technologies.