Forming Limit Diagram (FLD) is a resourceful tool to study the formability of sheet metals. Research on the formability of Perforated Sheet Metal is growing over the years as perforated sheet metal finds its applications in various fields. But finding FLD of perforated sheet metals is complex due to the presence of holes. Also, the hole size, shape and pattern, ligament ratio, thickness of the blank, percentage of open area influence the formability of a perforated sheet metal.In the present scenario, various simulation softwares have made the process of plotting FLD much easier, saving time and money. This paper is an attempt to predict the formability of mild steel perforated sheet metal through simulation software package LS Dyna. Also, Parametric analysis is performed to determine the influence of geometric parameters on the drawability of the perforated sheet metal.