Hello Hari,
SAP PCo 15.0 SP05 no longer requires license key to run PCo.
From Note -- "As of SP 03, you can use SAP PCo productively on any computer in your company without having to request a separate hardware-specific license key for each installation. A prerequisite is that your company has a valid license for SAP ERP, EWM, MII, or ME."
Regards,
Shridhar