#!/usr/bin/perl

use Imager::Color;
use strict;

#   define HSV colour option within the object initiation
#
my $hsv = Imager::Color->new(
    hsv     =>  [ 120, 0.5, 1 ]     #   hue, v, s
);
my @rgb = $hsv->rgba;
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Update

Alternatively, if you want to roll your own conversion tool, the following code could be used, based on the converstion algorithm documentation at http://www.cs.rit.edu/~ncs/color/t_convert.html. eg.

#!/usr/bin/perl

use POSIX;
use strict;

sub hsv2rgb {
    my ( $h, $s, $v ) = @_;

    if ( $s == 0 ) {
        return $v, $v, $v;
    }

    $h /= 60;
    my $i = floor( $h );
    my $f = $h - $i;
    my $p = $v * ( 1 - $s );
    my $q = $v * ( 1 - $s * $f );
    my $t = $v * ( 1 - $s * ( 1 - $f ) );

    if ( $i == 0 ) {
        return $v, $t, $p;
    }
    elsif ( $i == 1 ) {
        return $q, $v, $t;
    }
    elsif ( $i == 2 ) {
        return $p, $v, $t;
    }
    elsif ( $i == 3 ) {
        return $p, $q, $v;
    }
    elsif ( $i == 4 ) {
        return $t, $p, $v;
    }
    else {
        return $v, $p, $q;
    }
}
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Thanks mate, Should solve my problem

case 1 is wrong! should be: elsif ( $i == 1 ) { return $q, $v, $p;