I have a website with a company Name as a domain name. If i get 5 additional Keyword based domains and point it in to my site, is it good for SEO wise?
It sounds to me like a cheat and usually cheats in real world are bad. Try to invest your time by really getting back links from other real web sites. If you still wanna go and proceed, get separate web hosting companies for each of them, at least the IP and/or IP class to be diffrent from each other.
If the other keyword based domains are new sites that do not have a history, then directing them to your site will not provide any SEO benefit for you.
I would stick with the one domain. If you want to make a few landing pages for particular keywords that is fine as long as the content is useful and doesn't seem forced.
Not an appealing idea to me... There are tons of ways of improving your keyword ranking. You don't have to use these 'not so good strategies' for improving your rankings. Also, branding is more important than keyword ranking.